The Goldman Sachs Group Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target lifted by The Goldman Sachs Group from $59.00 to $66.00 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised EQT to a “sell” rating in a report on Saturday, February 8th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $57.00 in a research note on Monday, December 16th. Jefferies Financial Group increased their price target on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company raised their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.22.

EQT Stock Performance

Shares of EQT stock opened at $52.36 on Wednesday. The stock’s fifty day moving average price is $48.32 and its 200-day moving average price is $40.73. EQT has a 12 month low of $30.02 and a 12 month high of $54.85. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $31.24 billion, a P/E ratio of 62.33, a P/E/G ratio of 0.62 and a beta of 1.08.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.20%. EQT’s dividend payout ratio is 75.00%.

Insider Buying and Selling at EQT

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EQT. Wellington Management Group LLP raised its position in EQT by 38.7% in 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 purchasing an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock valued at $3,344,371,000 after buying an additional 358,649 shares during the period. State Street Corp grew 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 buying an additional 7,290,822 shares during the period. Modera Wealth Management LLC acquired a new position in shares of EQT in the 3rd quarter valued at $562,494,000. Finally, Geode Capital Management LLC boosted its stake in EQT by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the period. Institutional investors 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.