Wells Fargo & Company Increases EQT (NYSE:EQT) Price Target to $58.00

EQT (NYSE:EQT) had its price target increased by Wells Fargo & Company from $53.00 to $58.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas producer’s stock.

Several other equities research analysts also recently weighed in on EQT. JPMorgan Chase & Co. increased their price target on EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. StockNews.com raised EQT from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Truist Financial increased their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler raised their target price on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

EQT Stock Performance

Shares of EQT stock opened at $53.54 on Wednesday. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 133.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The business has a fifty day moving average of $51.07 and a 200 day moving average of $43.92. EQT has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, research analysts expect that EQT will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.18%. The ex-dividend date was Tuesday, February 18th. EQT’s payout ratio is 157.50%.

Institutional Investors Weigh In On EQT

Several institutional investors have recently bought and sold shares of EQT. 111 Capital purchased a new position in EQT in the 4th quarter worth approximately $253,000. PKO Investment Management Joint Stock Co acquired a new position in shares of EQT during the 4th quarter worth approximately $678,000. Siemens Fonds Invest GmbH acquired a new position in shares of EQT during the 4th quarter worth approximately $108,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of EQT during the 4th quarter worth approximately $5,993,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of EQT during the 4th quarter worth approximately $72,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Company Profile

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.