EQT (NYSE:EQT) Sets New 52-Week High – Here’s What Happened

EQT Co. (NYSE:EQT) shares reached a new 52-week high during trading on Monday . The company traded as high as $44.61 and last traded at $44.58, with a volume of 1882033 shares changing hands. The stock had previously closed at $42.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. StockNews.com raised shares of EQT to a “sell” rating in a research report on Friday, July 26th. BMO Capital Markets raised their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group boosted their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Bank of America started coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average price target of $42.83.

EQT Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 52.48 and a beta of 1.06. The firm has a fifty day simple moving average of $37.39 and a 200 day simple moving average of $36.83.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, analysts anticipate that EQT Co. will post 1.28 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.35%. EQT’s dividend payout ratio is presently 75.00%.

Institutional Trading of EQT

A number of institutional investors have recently bought and sold shares of EQT. Davis Investment Partners LLC boosted its holdings in EQT by 1.0% in the 3rd 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 in the last quarter. Hancock Whitney Corp raised its position in shares of EQT by 3.0% in the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock valued at $541,000 after buying an additional 419 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of EQT by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 421 shares during the period. SeaBridge Investment Advisors LLC boosted its stake in EQT by 1.4% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock worth $1,139,000 after buying an additional 431 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in EQT by 40.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 434 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.