EQT (NYSE:EQT) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of EQT (NYSE:EQT) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other research firms also recently weighed in on EQT. Siebert Williams Shank increased their price objective on EQT from $59.00 to $62.00 and gave the company a “hold” rating in a report on Monday, January 26th. Barclays increased their price target on EQT from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler lifted their price objective on EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 18th. BMO Capital Markets reduced their target price on EQT from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Finally, Scotiabank lowered their price target on shares of EQT from $67.00 to $63.00 and set a “sector perform” rating for the company in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.55.

EQT Stock Performance

EQT stock opened at $58.35 on Monday. The business has a 50 day moving average of $54.86 and a 200-day moving average of $54.69. The company has a market capitalization of $36.43 billion, a P/E ratio of 17.63, a P/E/G ratio of 0.42 and a beta of 0.74. EQT has a 1 year low of $43.57 and a 1 year high of $62.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. EQT had a net margin of 23.59% and a return on equity of 7.25%. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities research analysts predict that EQT will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, February 17th. EQT’s payout ratio is presently 19.94%.

Insider Transactions at EQT

In other EQT news, EVP Sarah Fenton sold 3,768 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $60.37, for a total transaction of $227,474.16. Following the transaction, the executive vice president directly owned 52,806 shares in the company, valued at approximately $3,187,898.22. This represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Hedge funds have recently modified their holdings of the stock. Westpac Banking Corp lifted its position in shares of EQT by 6.6% during the 3rd quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock valued at $145,000 after acquiring an additional 165 shares during the period. Parallel Advisors LLC grew its holdings in EQT by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after purchasing an additional 198 shares during the period. Rothschild Investment LLC increased its stake in EQT by 0.5% in the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after purchasing an additional 215 shares in the last quarter. Fortitude Family Office LLC increased its stake in EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of EQT by 4.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock valued at $633,000 after purchasing an additional 456 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.