EQT (NYSE:EQT) Given New $34.00 Price Target at Piper Sandler

EQT (NYSE:EQT - Free Report) had its price objective lifted by Piper Sandler from $32.00 to $34.00 in a research report sent to investors on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer's stock.

Several other analysts also recently commented on the company. Stephens upped their price objective on EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of EQT to a "sell" rating in a research report on Friday, July 26th. Citigroup upgraded shares of EQT from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. BMO Capital Markets increased their price target on shares of EQT from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Finally, Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.61.

EQT Stock Up 3.3 %

EQT stock traded up $1.18 during midday trading on Monday, reaching $36.80. 6,710,969 shares of the company were exchanged, compared to its average volume of 7,037,148. The stock's 50-day simple moving average is $35.24 and its 200 day simple moving average is $36.60. EQT has a 1-year low of $30.02 and a 1-year high of $44.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.73 and a current ratio of 0.51. The company has a market cap of $16.25 billion, a price-to-earnings ratio of 43.54 and a beta of 1.06.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities analysts forecast that EQT will post 1.42 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT's dividend payout ratio (DPR) is presently 75.00%.

Hedge Funds Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer's stock worth $2,405,007,000 after buying an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer's stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer's stock worth $752,487,000 after purchasing an additional 464,781 shares in the last quarter. Modera Wealth Management LLC bought a new stake in EQT in the third quarter valued at about $562,494,000. Finally, Clearbridge Investments LLC lifted its holdings in EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer's stock worth $335,952,000 after buying an additional 253,186 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.