EQT (NYSE:EQT) Hits New 52-Week High – Here’s Why

EQT Co. (NYSE:EQT)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $44.61 and last traded at $44.58, with a volume of 1882033 shares traded. The stock had previously closed at $42.71.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EQT shares. Piper Sandler boosted their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Morgan Stanley reissued an “overweight” rating and set a $45.00 target price on shares of EQT in a report on Friday, September 13th. Finally, Mizuho upped their price target on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Stock Up 5.6 %

The firm has a market capitalization of $27.77 billion, a P/E ratio of 52.48 and a beta of 1.06. The firm’s 50 day moving average is $37.39 and its two-hundred day moving average is $36.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

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, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts predict that EQT Co. will post 1.28 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new stake in EQT during the 1st quarter valued at approximately $2,274,000. UniSuper Management Pty Ltd lifted its holdings in shares of EQT by 563.1% in the first quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 24,713 shares in the last quarter. Swedbank AB purchased a new position in shares of EQT during the first quarter valued at approximately $4,073,000. Virtu Financial LLC grew its holdings in EQT by 184.3% during the first quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock worth $1,970,000 after buying an additional 34,446 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in EQT by 71.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock valued at $7,883,000 after buying an additional 89,866 shares during the last quarter. 90.81% of the stock is owned by 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.