BMO Capital Markets Boosts EQT (NYSE:EQT) Price Target to $40.00

by · The Cerbat Gem

EQT (NYSE:EQT – Free Report) had its target price hoisted by BMO Capital Markets from $39.00 to $40.00 in a research note issued to investors on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the oil and gas producer’s stock.

Other research analysts have also recently issued research reports about the stock. Mizuho lowered their target price on shares of EQT from $43.00 to $41.00 and set a neutral rating for the company in a report on Friday. Citigroup raised EQT from a neutral rating to a buy rating and raised their price objective for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Morgan Stanley reissued an overweight rating and issued a $45.00 target price on shares of EQT in a report on Friday, September 13th. StockNews.com raised EQT to a sell rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company raised EQT from an equal weight rating to an overweight rating and lifted their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, EQT presently has an average rating of Moderate Buy and a consensus target price of $42.18.

Read Our Latest Report on EQT

EQT Price Performance

EQT stock opened at $37.30 on Friday. The business’s 50-day moving average is $33.46 and its two-hundred day moving average is $36.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $16.47 billion, a P/E ratio of 27.03 and a beta of 1.06. EQT has a 1 year low of $30.02 and a 1 year high of $45.23.

EQT (NYSE:EQT – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. Analysts anticipate that EQT will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.69%. EQT’s dividend payout ratio is currently 45.65%.

Institutional Investors Weigh In On EQT

A number of large investors have recently modified their holdings of EQT. Park Avenue Securities LLC boosted its stake in shares of EQT by 3.8% in the first quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock valued at $302,000 after purchasing an additional 300 shares during the period. Davis Investment Partners LLC boosted its holdings in EQT by 1.0% in 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. Czech National Bank boosted its holdings in EQT by 0.5% in the first quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock valued at $2,683,000 after purchasing an additional 332 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in EQT by 5.1% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock valued at $254,000 after purchasing an additional 336 shares in the last quarter. Finally, Hancock Whitney Corp increased its holdings in EQT by 3.0% during the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

About EQT

(Get Free Report)

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.

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