Scotiabank Begins Coverage on EQT (NYSE:EQT)

Scotiabank began coverage on shares of EQT (NYSE:EQTGet Rating) in a report released on Wednesday. The brokerage issued an outperform rating and a $54.00 price target on the oil and gas producer’s stock.

Several other equities analysts have also issued reports on EQT. Credit Suisse Group boosted their target price on shares of EQT from $50.00 to $52.00 and gave the company an outperform rating in a report on Thursday, July 28th. Mizuho dropped their price objective on EQT from $65.00 to $55.00 and set a buy rating on the stock in a research note on Tuesday, July 19th. Morgan Stanley decreased their target price on EQT from $50.00 to $48.00 and set an overweight rating for the company in a research note on Tuesday, July 19th. Truist Financial increased their price target on EQT from $35.00 to $60.00 in a report on Thursday, April 21st. Finally, Tudor Pickering upgraded shares of EQT from a hold rating to a buy rating and set a $58.00 target price on the stock in a research report on Monday, April 11th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, EQT presently has a consensus rating of Moderate Buy and a consensus target price of $52.83.

EQT Trading Up 2.5 %

EQT opened at $42.28 on Wednesday. The company’s 50 day moving average price is $40.54 and its two-hundred day moving average price is $34.78. The firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of -15.54, a PEG ratio of 0.23 and a beta of 1.19. EQT has a fifty-two week low of $15.71 and a fifty-two week high of $50.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.57 and a quick ratio of 0.57.

EQT (NYSE:EQTGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The oil and gas producer reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.32. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 61.7% on a year-over-year basis. As a group, research analysts predict that EQT will post 3.72 earnings per share for the current year.

EQT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Tuesday, August 9th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.42%. This is an increase from EQT’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, August 8th. EQT’s payout ratio is currently -18.38%.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in EQT by 14.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 345,700 shares of the oil and gas producer’s stock valued at $11,892,000 after buying an additional 44,880 shares during the last quarter. M&T Bank Corp boosted its position in EQT by 61.5% in the second quarter. M&T Bank Corp now owns 20,766 shares of the oil and gas producer’s stock worth $713,000 after purchasing an additional 7,904 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of EQT during the 2nd quarter valued at $466,000. abrdn plc bought a new stake in shares of EQT during the 2nd quarter worth $283,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of EQT by 4,135.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 38,246 shares of the oil and gas producer’s stock worth $1,316,000 after buying an additional 37,343 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

EQT Company Profile

(Get Rating)

EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

Featured Articles

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.