EQT (NYSE:EQT) Shares Gap Up – What’s Next?

EQT Co. (NYSE:EQT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $44.32, but opened at $46.35. EQT shares last traded at $45.81, with a volume of 2,053,760 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Stephens raised their target price on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Tuesday, December 3rd. Finally, Sanford C. Bernstein began coverage on EQT in a research note on Friday, December 6th. They set a “market perform” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.61.

EQT Price Performance

The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of 54.89 and a beta of 1.14. The company’s 50 day moving average is $42.82 and its 200 day moving average is $37.71. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.37%. EQT’s dividend payout ratio is presently 75.00%.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

A number of large investors have recently bought and sold shares of EQT. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. Modera Wealth Management LLC bought a new stake in EQT during the third quarter worth $562,494,000. State Street Corp boosted its holdings in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of EQT during the 3rd quarter worth $97,979,000. 90.81% of the stock is currently 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.