EQT (NYSE:EQT) Price Target Raised to $60.00 at Citigroup

EQT (NYSE:EQT) had its price target hoisted by Citigroup from $51.00 to $60.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas producer’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley increased their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. increased their target price on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research report on Monday, January 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. Based on data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average target price of $54.50.

EQT Price Performance

NYSE EQT opened at $53.54 on Monday. The stock has a 50-day simple moving average of $51.07 and a 200 day simple moving average of $43.92. EQT has a twelve month low of $30.02 and a twelve month high of $56.66. The stock has a market capitalization of $31.99 billion, a PE ratio of 133.85, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. Research analysts anticipate that EQT will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.18%. EQT’s payout ratio is presently 157.50%.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently modified their holdings of EQT. Truvestments Capital LLC acquired a new position in shares of EQT in the 3rd quarter worth approximately $30,000. Quarry LP increased its holdings in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in EQT during the 3rd quarter valued at $36,000. Financial Avengers Inc. increased its holdings in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. increased its holdings in EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.