EQT (NYSE:EQT) Reaches New 1-Year High – Here’s What Happened

EQT Co. (NYSE:EQT)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $42.82 and last traded at $42.78, with a volume of 327441 shares traded. The stock had previously closed at $41.22.

Analyst Ratings Changes

A number of analysts have weighed in on EQT shares. Bank of America started coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. UBS Group increased their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Piper Sandler increased their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and an average price target of $42.83.

EQT Stock Down 0.5 %

The stock has a 50 day moving average price of $36.07 and a 200 day moving average price of $36.69. The company has a market cap of $26.12 billion, a P/E ratio of 52.12 and a beta of 1.06. 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 issued its quarterly earnings results 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. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS. Research analysts expect that EQT Co. will post 1.34 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.44%. EQT’s dividend payout ratio (DPR) is 75.00%.

Institutional Investors Weigh In On EQT

Several large investors have recently modified their holdings of EQT. Daiwa Securities Group Inc. lifted its holdings in shares of EQT by 46.0% during the third quarter. Daiwa Securities Group Inc. now owns 75,047 shares of the oil and gas producer’s stock valued at $2,750,000 after purchasing an additional 23,640 shares during the last quarter. Crewe Advisors LLC lifted its stake in EQT by 63,661.0% during the third quarter. Crewe Advisors LLC now owns 75,238 shares of the oil and gas producer’s stock valued at $2,757,000 after buying an additional 75,120 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of EQT by 26.2% in the third quarter. Pitcairn Co. now owns 8,647 shares of the oil and gas producer’s stock worth $317,000 after buying an additional 1,794 shares during the period. Cerity Partners LLC increased its position in shares of EQT by 51.4% in the third quarter. Cerity Partners LLC now owns 36,754 shares of the oil and gas producer’s stock worth $1,347,000 after acquiring an additional 12,480 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its position in shares of EQT by 23.2% in the third quarter. Kingsview Wealth Management LLC now owns 247,613 shares of the oil and gas producer’s stock worth $9,073,000 after acquiring an additional 46,596 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

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.