EQT (NYSE:EQT) Given New $54.00 Price Target at UBS Group

EQT (NYSE:EQT) had its target price boosted by UBS Group from $49.00 to $54.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

EQT has been the subject of several other research reports. JPMorgan Chase & Co. upped their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Bank of America started coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Morgan Stanley upped their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Truist Financial upped their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.89.

EQT Stock Performance

EQT stock opened at $53.49 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a 50 day moving average price of $48.85 and a 200 day moving average price of $41.07. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The stock has a market capitalization of $31.91 billion, a PE ratio of 63.67, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, February 18th. EQT’s payout ratio is presently 75.00%.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after buying an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of EQT by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after buying an additional 358,649 shares during the last quarter. State Street Corp boosted its stake in shares of EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of EQT during the 3rd quarter worth about $562,494,000. Finally, Geode Capital Management LLC boosted its stake in shares of EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after buying an additional 429,733 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.