Wells Fargo & Company Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its target price upped by Wells Fargo & Company from $42.00 to $52.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other analysts have also recently weighed in on EQT. JPMorgan Chase & Co. upped their price target on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Mizuho lifted 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. Piper Sandler upped their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

EQT Trading Down 0.6 %

Shares of EQT stock opened at $45.29 on Monday. The firm has a fifty day moving average of $38.93 and a 200-day moving average of $37.11. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 53.92 and a beta of 1.06. EQT has a 52-week low of $30.02 and a 52-week high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities research analysts forecast that EQT will post 1.38 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.39%. 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 and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in 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 acquiring an additional 20,700,921 shares during the period. Modera Wealth Management LLC bought a new stake in EQT in the third quarter valued at about $562,494,000. State Street Corp lifted its stake in EQT by 24.5% in the third 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 buying an additional 7,290,822 shares during the period. Geode Capital Management LLC boosted its holdings in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of EQT during the 3rd quarter worth about $97,979,000. 90.81% of the stock is owned by institutional investors.

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.