Royal Bank of Canada Reiterates Sector Perform Rating for EQT (NYSE:EQT)

Royal Bank of Canada reiterated their sector perform rating on shares of EQT (NYSE:EQT) in a report issued on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $49.00 target price on the oil and gas producer’s stock.

Several other equities research analysts have also commented on the stock. Stephens upped their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. UBS Group increased their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Citigroup upped their price objective on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Truist Financial raised their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.78.

EQT Stock Up 1.1 %

Shares of EQT stock opened at $47.56 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a twelve month low of $30.02 and a twelve month high of $48.33. The company has a market cap of $28.38 billion, a price-to-earnings ratio of 56.62 and a beta of 1.12. The company’s 50 day moving average is $43.42 and its 200 day moving average is $37.89.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Research analysts anticipate that EQT will post 1.37 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the company. Everence Capital Management Inc. purchased a new stake in shares of EQT during the 4th quarter worth approximately $1,272,000. General Partner Inc. purchased a new stake in EQT during the fourth quarter valued at $266,000. GAMMA Investing LLC lifted its position in EQT by 65.8% during the fourth quarter. GAMMA Investing LLC now owns 8,400 shares of the oil and gas producer’s stock valued at $387,000 after purchasing an additional 3,333 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of EQT by 144.6% in the 4th quarter. Versant Capital Management Inc now owns 2,052 shares of the oil and gas producer’s stock worth $95,000 after buying an additional 1,213 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of EQT by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 700,714 shares of the oil and gas producer’s stock worth $25,674,000 after buying an additional 198,227 shares during the last quarter. Hedge funds and other institutional investors 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.