By otakuyassine3@gmail.com 
Mizuho upgraded shares of EQT (NYSE:EQT – Free Report) from a neutral rating to an outperform rating in a research note released on Monday, Marketbeat.com reports. The firm currently has $57.00 target price on the oil and gas producer’s stock, up from their previous target price of $48.00.
Several other research firms have also recently issued reports on EQT. JPMorgan Chase & Co. upped their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Tuesday, December 3rd. Bank of America started coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Stephens increased their target price on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price target on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.61.
EQT Trading Down 3.8 %
NYSE EQT opened at $42.54 on Monday. The stock has a market cap of $25.38 billion, a P/E ratio of 50.64 and a beta of 1.14. The company’s fifty day simple moving average is $41.41 and its 200-day simple moving average is $37.50. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 52 week low of $30.02 and a 52 week high of $48.02.
EQT (NYSE:EQT – Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 3.74% and a net margin of 5.52%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Equities research analysts predict that EQT will post 1.37 EPS for the current fiscal year.
EQT Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.48%. EQT’s dividend payout ratio is currently 75.00%.
Insider Buying and Selling
In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.63% of the company’s stock.
Hedge Funds Weigh In On EQT
A number of institutional investors have recently bought and sold shares of the stock. HM Payson & Co. acquired a new position in EQT during the third quarter valued at $25,000. Innealta Capital LLC purchased a new position in EQT during the 2nd quarter valued at about $28,000. Truvestments Capital LLC acquired a new position in shares of EQT in the 3rd quarter valued at about $30,000. Hexagon Capital Partners LLC lifted its position in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.
About EQT
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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