EQT (EQT) Given New $25.00 Price Target at TD Securities

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EQT (NYSE:EQT) had its price objective hoisted by TD Securities from $23.00 to $25.00 in a report issued on Monday, BayStreet.CA reports. TD Securities currently has a hold rating on the oil and gas producer’s stock.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada cut EQT from an outperform rating to a sector perform rating in a report on Monday, January 7th. They noted that the move was a valuation call. Morgan Stanley set a $10.00 price target on EQT and gave the stock a sell rating in a report on Tuesday, January 29th. Credit Suisse Group restated a buy rating and set a $24.00 price objective on shares of EQT in a report on Tuesday, January 22nd. Cowen initiated coverage on EQT in a report on Tuesday, April 9th. They set a market perform rating and a $24.00 price objective for the company. Finally, Jefferies Financial Group restated a hold rating and set a $21.00 price objective on shares of EQT in a report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $37.33.

EQT stock opened at $19.72 on Monday. EQT has a 52 week low of $16.29 and a 52 week high of $31.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $5.10 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.37 and a beta of 0.70.

EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas producer reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.11. EQT had a positive return on equity of 4.51% and a negative net margin of 10.17%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company posted $0.67 earnings per share. EQT’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, sell-side analysts predict that EQT will post 1.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Tuesday, May 14th. EQT’s dividend payout ratio is presently 7.06%.

In other news, CEO Robert Joseph Mcnally acquired 1,496 shares of the stock in a transaction on Tuesday, February 19th. The stock was acquired at an average cost of $19.10 per share, for a total transaction of $28,573.60. Following the completion of the transaction, the chief executive officer now directly owns 180,245 shares in the company, valued at $3,442,679.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Jonathan M. Lushko acquired 7,903 shares of the stock in a transaction on Tuesday, February 19th. The shares were purchased at an average price of $19.04 per share, with a total value of $150,473.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 59,459 shares of company stock valued at $1,177,466. Corporate insiders own 0.68% of the company’s stock.

Several large investors have recently made changes to their positions in EQT. Tortoise Capital Advisors L.L.C. increased its holdings in shares of EQT by 119.9% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 701,848 shares of the oil and gas producer’s stock worth $31,043,000 after buying an additional 382,705 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EQT by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 2,126,614 shares of the oil and gas producer’s stock worth $94,061,000 after buying an additional 63,163 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in EQT by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 865,368 shares of the oil and gas producer’s stock valued at $38,278,000 after purchasing an additional 3,718 shares during the period. Advisors Asset Management Inc. increased its holdings in EQT by 28.4% in the third quarter. Advisors Asset Management Inc. now owns 28,133 shares of the oil and gas producer’s stock valued at $1,244,000 after purchasing an additional 6,227 shares during the period. Finally, Kentucky Retirement Systems acquired a new stake in EQT in the third quarter valued at $1,117,000. Institutional investors own 96.49% of the company’s stock.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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