EQT (NYSE:EQT) Shares Up 6.2% – Should You Buy?

EQT Co. (NYSE:EQT)’s share price rose 6.2% during trading on Wednesday . The company traded as high as $45.78 and last traded at $45.74. Approximately 3,452,208 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 7,138,585 shares. The stock had previously closed at $43.05.

Analyst Upgrades and Downgrades

EQT has been the subject of a number of research analyst reports. Truist Financial boosted their target price on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on EQT in a research note on Friday, December 6th. They set a “market perform” rating and a $50.00 price target for the company. JPMorgan Chase & Co. lifted their price target on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Wells Fargo & Company lifted their price target on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has a consensus rating of “Hold” and an average price target of $46.11.

EQT Price Performance

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $27.20 billion, a P/E ratio of 53.33 and a beta of 1.14. The business’s fifty day moving average is $40.35 and its 200 day moving average is $37.29.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts anticipate that EQT Co. will post 1.36 EPS for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.38%. EQT’s payout ratio is 75.00%.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. State Street Corp raised its position in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares in the last quarter. Bank of New York Mellon Corp raised its position in EQT by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after purchasing an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in EQT during the third quarter valued at about $562,494,000. Finally, Geode Capital Management LLC grew its stake in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

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.