Piper Sandler Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

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

EQT has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. UBS Group boosted their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Scotiabank boosted their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Finally, Mizuho dropped their price target on shares of EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average price target of $42.83.

EQT Stock Up 1.2 %

EQT stock opened at $40.69 on Monday. The stock has a market capitalization of $17.97 billion, a PE ratio of 48.44 and a beta of 1.06. EQT has a twelve month low of $30.02 and a twelve month high of $42.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $35.56 and a 200-day moving average of $36.64.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts anticipate that EQT will post 1.39 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers acquired a new stake in EQT during the first quarter worth about $2,274,000. UniSuper Management Pty Ltd grew its stake in EQT by 563.1% during the first quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock worth $1,079,000 after buying an additional 24,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in EQT by 17.7% during 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 buying an additional 70,325 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 buying an additional 3,942,802 shares in the last quarter. Finally, Swedbank AB acquired a new stake in EQT during the first quarter worth about $4,073,000. 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.