Stephens Raises EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT) had its price target raised by Stephens from $46.00 to $47.00 in a research report sent to investors on Wednesday, Benzinga reports. Stephens currently has an equal weight rating on the oil and gas producer’s stock.

Other equities research analysts have also issued reports about the company. Mizuho raised their target price on EQT from $39.00 to $40.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Morgan Stanley increased their price target on EQT from $37.00 to $49.00 and gave the stock an overweight rating in a research note on Wednesday, April 17th. Jefferies Financial Group increased their price target on EQT from $42.00 to $43.00 and gave the stock a buy rating in a research note on Friday, April 5th. Sanford C. Bernstein upgraded EQT from an underperform rating to a market perform rating and increased their price target for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company downgraded EQT from an overweight rating to an equal weight rating and cut their price target for the stock from $48.00 to $37.00 in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $44.06.

EQT Price Performance

Shares of EQT opened at $39.42 on Wednesday. EQT has a 12-month low of $30.84 and a 12-month high of $45.23. The business’s fifty day moving average is $36.19 and its 200 day moving average is $38.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market cap of $17.36 billion, a P/E ratio of 28.57 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a return on equity of 4.70% and a net margin of 10.96%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the firm posted $1.70 EPS. EQT’s quarterly revenue was down 28.8% compared to the same quarter last year. Sell-side analysts anticipate that EQT will post 0.99 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is 45.65%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Simplicity Wealth LLC bought a new position in shares of EQT during the 1st quarter valued at $5,091,000. Assenagon Asset Management S.A. grew its stake in shares of EQT by 922.6% during the first quarter. Assenagon Asset Management S.A. now owns 175,028 shares of the oil and gas producer’s stock valued at $6,488,000 after buying an additional 157,912 shares during the last quarter. Muhlenkamp & Co. Inc. grew its stake in shares of EQT by 0.6% during the first quarter. Muhlenkamp & Co. Inc. now owns 450,628 shares of the oil and gas producer’s stock valued at $16,705,000 after buying an additional 2,876 shares during the last quarter. Amalgamated Bank lifted its stake in shares of EQT by 5.0% in the 1st quarter. Amalgamated Bank now owns 125,215 shares of the oil and gas producer’s stock valued at $4,642,000 after acquiring an additional 6,007 shares during the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in EQT by 10.1% during the 1st quarter. New Mexico Educational Retirement Board now owns 20,700 shares of the oil and gas producer’s stock valued at $767,000 after acquiring an additional 1,900 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.