EQT (NYSE:EQT) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of EQT (NYSE:EQT) in a research note issued to investors on Monday, StockNewsAPI reports. The brokerage issued a buy rating and a $50.00 price target on the oil and gas producer’s stock.

Several other analysts have also issued reports on the stock. Stephens reduced their target price on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Truist Financial decreased their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets upped their target price on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. increased 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. Finally, UBS Group cut their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.17.

EQT Stock Performance

EQT opened at $36.55 on Monday. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 43.51 and a beta of 1.06. The company’s fifty day moving average price is $35.20 and its two-hundred day moving average price is $36.60. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.05 by $0.07. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. On average, analysts expect that EQT will post 1.4 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.72%. EQT’s dividend payout ratio (DPR) is 75.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Park Avenue Securities LLC increased its stake in EQT by 3.8% in the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock worth $302,000 after acquiring an additional 300 shares during the last quarter. Davis Investment Partners LLC lifted its position in EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after purchasing an additional 317 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in EQT by 5.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock worth $254,000 after buying an additional 336 shares in the last quarter. Hancock Whitney Corp increased its holdings in shares of EQT by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 419 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of EQT by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 421 shares in the last quarter. 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.