EQT (NYSE:EQT) Now Covered by Analysts at Melius

Melius initiated coverage on shares of EQT (NYSE:EQT) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $64.00 price objective on the oil and gas producer’s stock.

Several other brokerages have also recently commented on EQT. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price target (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Roth Capital cut shares of EQT from a “strong-buy” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $57.00 in a research report on Monday. Piper Sandler boosted their price target on shares of EQT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Scotiabank boosted their price target on shares of EQT from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley reissued an “overweight” rating on shares of EQT in a research report on Tuesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.71.

EQT Trading Up 1.5%

EQT opened at $51.2750 on Wednesday. The stock has a market capitalization of $32.00 billion, a P/E ratio of 27.72, a P/E/G ratio of 0.37 and a beta of 0.59. EQT has a 12 month low of $31.45 and a 12 month high of $61.02. The firm’s fifty day simple moving average is $55.08 and its 200 day simple moving average is $53.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, research analysts anticipate that EQT will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio is 34.05%.

Insider Transactions at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EQT. Zions Bancorporation National Association UT acquired a new position in shares of EQT during the 1st quarter worth approximately $35,000. Harbour Investments Inc. grew its position in shares of EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 226 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EQT during the 2nd quarter worth approximately $41,000. University of Texas Texas AM Investment Management Co. grew its position in shares of EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 310 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 500 shares in the last quarter. 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.