EQT (NYSE:EQT) Shares Up 5.7% – Here’s What Happened

EQT Co. (NYSE:EQT) shares traded up 5.7% on Wednesday . The company traded as high as $46.61 and last traded at $46.61. 12,449,310 shares changed hands during mid-day trading, an increase of 76% from the average session volume of 7,084,948 shares. The stock had previously closed at $44.08.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. StockNews.com raised EQT to a “sell” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Mizuho increased their price objective on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Bank of America initiated coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Stock Down 2.1 %

The company has a market capitalization of $27.40 billion, a P/E ratio of 55.82 and a beta of 1.06. 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 50 day moving average of $37.95 and a 200-day moving average of $36.97.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. As a group, equities analysts anticipate that EQT Co. will post 1.35 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.37%. EQT’s dividend payout ratio is 75.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. HM Payson & Co. bought a new stake in EQT during the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in shares of EQT during the second quarter valued at approximately $28,000. Truvestments Capital LLC bought a new stake in shares of EQT in the 3rd quarter worth approximately $30,000. Quarry LP grew its stake in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its position in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares in the last quarter. 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.