EQT (NYSE:EQT) Price Target Raised to $60.00

EQT (NYSE:EQT) had its price target lifted by Citigroup from $51.00 to $60.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a buy rating on the oil and gas producer’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Morgan Stanley raised their target price on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Piper Sandler raised their target price on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Wells Fargo & Company raised their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. One 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, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

EQT Stock Performance

Shares of NYSE EQT opened at $53.54 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $31.99 billion, a price-to-earnings ratio of 133.85, a PEG ratio of 0.64 and a beta of 1.12. The stock’s fifty day simple moving average is $51.07 and its 200 day simple moving average is $43.92. EQT has a 52-week low of $30.02 and a 52-week high of $56.66.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, sell-side analysts forecast that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. EQT’s payout ratio is 157.50%.

Institutional Trading of EQT

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $3,344,371,000 after acquiring an additional 358,649 shares during the last quarter. State Street Corp raised its stake in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC lifted its holdings in EQT by 3.1% in 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 purchasing an additional 429,733 shares during the last quarter. Finally, Capital International Investors boosted its position in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after purchasing an additional 2,433,632 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.