EQT (NYSE:EQT) Earns Buy Rating from Analysts at Melius Research

Melius Research started coverage on shares of EQT (NYSE:EQT – Free Report) in a report published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $64.00 price objective on the oil and gas producer’s stock.

Several other equities analysts also recently commented on the company. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 price target (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Piper Sandler increased their price target on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Mizuho upgraded EQT to an “outperform” rating and set a $66.00 price target on the stock in a report on Tuesday, July 8th. Roth Capital downgraded EQT from a “strong-buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $57.00 in a report on Monday, August 18th. Finally, Royal Bank Of Canada increased their price target on EQT from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Tuesday, July 8th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.14.

View Our Latest Stock Analysis on EQT

EQT Stock Down 0.3%

Shares of NYSE EQT traded down $0.1340 during mid-day trading on Wednesday, reaching $51.9160. The company had a trading volume of 4,768,066 shares, compared to its average volume of 7,375,581. The stock has a fifty day moving average of $54.91 and a two-hundred day moving average of $53.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $32.40 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 0.38 and a beta of 0.59. EQT has a 12-month low of $31.45 and a 12-month high of $61.02.

EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period last year, the company earned ($0.08) earnings per share. As a group, equities research analysts expect that EQT will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT’s dividend payout ratio is currently 34.05%.

Insider Activity at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares of the company’s stock, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Anchor Investment Management LLC lifted its position in EQT by 133.3% in the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 500 shares during the period. Captrust Financial Advisors lifted its position in EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock worth $1,786,000 after purchasing an additional 8,658 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in EQT by 495.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares during the period. Baird Financial Group Inc. lifted its position in EQT by 20.1% in the second quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer’s stock worth $6,210,000 after purchasing an additional 17,839 shares during the period. Finally, Crescent Grove Advisors LLC bought a new position in EQT in the second quarter worth $273,000. 90.81% of the stock is owned by institutional investors.

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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