UBS Group Cuts EQT (NYSE:EQT) Price Target to $36.00

EQT (NYSE:EQT) had its price target lowered by UBS Group from $38.00 to $36.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on EQT. Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the company a sector outperform rating in a research report on Friday, July 12th. Citigroup restated a neutral rating and issued a $37.00 price target on shares of EQT in a research report on Friday, August 23rd. Piper Sandler downgraded shares of EQT from an overweight rating to a neutral rating and lowered their price objective for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. Jefferies Financial Group upped their target price on EQT from $43.00 to $48.00 and gave the company a buy rating in a report on Tuesday, June 4th. Finally, Mizuho cut their price target on EQT from $45.00 to $43.00 and set a neutral rating on the stock in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $43.28.

EQT Trading Up 0.3 %

EQT opened at $34.83 on Wednesday. The stock has a market capitalization of $15.38 billion, a PE ratio of 25.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. EQT has a 12-month low of $30.02 and a 12-month high of $45.23. The firm’s fifty day moving average price is $33.28 and its 200 day moving average price is $36.45.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. As a group, research analysts expect that EQT will post 1.44 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.81%. EQT’s payout ratio is 45.65%.

Hedge Funds Weigh In On EQT

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Bank of New York Mellon Corp grew its position in EQT by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after buying an additional 4,339,407 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of EQT by 8.4% in 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 buying an additional 3,942,802 shares in the last quarter. Third Point LLC acquired a new stake in shares of EQT during the 4th quarter valued at $75,387,000. Finally, Merewether Investment Management LP bought a new stake in shares of EQT during the 2nd quarter worth $69,452,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About EQT

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.