Wells Fargo & Co Upgrades EQT (EQT) to “Outperform”
Wells Fargo & Co upgraded shares of EQT (NYSE:EQT) from a market perform rating to an outperform rating in a research note published on Monday morning, Benzinga reports. Wells Fargo & Co currently has $32.00 price target on the oil and gas producer’s stock.
A number of other brokerages have also weighed in on EQT. MKM Partners restated a neutral rating and issued a $23.00 target price on shares of EQT in a research note on Tuesday, April 16th. Cowen assumed coverage on EQT in a research note on Tuesday, April 9th. They issued a market perform rating and a $24.00 target price for the company. TD Securities raised their target price on EQT from $23.00 to $25.00 and gave the company a hold rating in a research note on Monday, April 29th. Credit Suisse Group restated a buy rating and issued a $24.00 target price on shares of EQT in a research note on Tuesday, January 22nd. Finally, Jefferies Financial Group restated a hold rating and issued a $21.00 target price on shares of EQT in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. EQT has an average rating of Hold and an average target price of $35.27.
Shares of NYSE:EQT opened at $19.95 on Monday. EQT has a twelve month low of $16.29 and a twelve month high of $31.28. The firm has a market capitalization of $5.31 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.46 and a beta of 0.70. 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 company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.60%. EQT’s payout ratio is 7.06%.
In other news, EVP Erin R. Centofanti acquired 7,765 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was purchased at an average cost of $20.83 per share, for a total transaction of $161,744.95. Following the completion of the transaction, the executive vice president now directly owns 59,594 shares in the company, valued at $1,241,343.02. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Donald M. Jenkins acquired 5,750 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was purchased at an average price of $19.46 per share, with a total value of $111,895.00. Following the completion of the transaction, the executive vice president now owns 44,871 shares of the company’s stock, valued at $873,189.66. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 33,260 shares of company stock valued at $678,211. Corporate insiders own 0.68% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of EQT during the 1st quarter worth about $29,000. Rockefeller Capital Management L.P. acquired a new position in shares of EQT during the 1st quarter worth about $33,000. Cresset Asset Management LLC acquired a new position in shares of EQT during the 1st quarter worth about $36,000. Clean Yield Group acquired a new position in shares of EQT during the 4th quarter worth about $34,000. Finally, Financial Architects Inc grew its position in shares of EQT by 55.1% during the 4th quarter. Financial Architects Inc now owns 2,131 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 757 shares during the period. Hedge funds and other institutional investors own 96.49% of the company’s stock.
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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