UBS Group Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target boosted by UBS Group from $40.00 to $42.00 in a research note released on Monday morning, Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

Other research analysts have also issued research reports about the company. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Wolfe Research initiated coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective for the company. Finally, Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $42.61.

EQT Stock Performance

EQT stock traded up $0.39 during trading on Monday, reaching $37.19. 135,434 shares of the stock were exchanged, compared to its average volume of 7,005,260. The stock has a 50 day simple moving average of $35.31 and a 200-day simple moving average of $36.61. 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 company has a market capitalization of $16.42 billion, a P/E ratio of 43.81 and a beta of 1.06. EQT has a twelve month low of $30.02 and a twelve month high of $44.47.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS 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 return on equity of 3.74% and a net margin of 5.52%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. As a group, sell-side analysts anticipate that EQT will post 1.42 earnings per share for the current year.

EQT Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Modera Wealth Management LLC bought a new stake in shares of EQT during the third quarter valued at approximately $562,494,000. Price T Rowe Associates Inc. MD raised its position in shares of EQT by 22.7% in 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 during the last quarter. Vanguard Group Inc. increased its position in shares of EQT by 8.4% in the 1st 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 acquiring an additional 3,942,802 shares during the period. Canoe Financial LP purchased a new position in shares of EQT in the third quarter worth about $89,907,000. Finally, Merewether Investment Management LP purchased a new position in shares of EQT during the second quarter worth $69,452,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.