Piper Sandler Raises EQT (NYSE:EQT) Price Target to $34.00

EQT (NYSE:EQT) had its target price upped by Piper Sandler from $32.00 to $34.00 in a research note released on Monday, Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer’s stock.

EQT has been the subject of a number of other research reports. Wolfe Research started coverage on shares of EQT in a research report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. JPMorgan Chase & Co. increased their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Mizuho lowered their price objective on EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.61.

EQT Stock Performance

EQT stock traded up $0.39 during trading hours on Monday, reaching $37.19. 135,434 shares of the stock were exchanged, compared to its average volume of 7,005,260. The firm’s 50 day moving average is $35.31 and its 200 day moving average is $36.61. The stock has a market cap of $16.42 billion, a P/E ratio of 43.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a 52-week low of $30.02 and a 52-week high of $44.47.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Analysts predict that EQT will post 1.42 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in shares of EQT during the first quarter worth approximately $2,274,000. UniSuper Management Pty Ltd boosted its position in EQT by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock worth $1,079,000 after acquiring an additional 24,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of EQT by 17.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock worth $17,374,000 after purchasing an additional 70,325 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $1,885,590,000 after purchasing an additional 3,942,802 shares during the period. Finally, Swedbank AB bought a new stake in shares of EQT during the first quarter valued at about $4,073,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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.