Fintel reports that on July 12, 2023, Stephens & Co. reiterated coverage of EQT (NYSE:EQT) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 12.69% Upside
As of July 6, 2023, the average one-year price target for EQT is 45.71. The forecasts range from a low of 35.35 to a high of $68.25. The average price target represents an increase of 12.69% from its latest reported closing price of 40.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for EQT is 10,848MM, a decrease of 4.29%. The projected annual non-GAAP EPS is 9.98.
EQT Declares $0.15 Dividend
On April 19, 2023 the company declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of May 10, 2023 received the payment on June 1, 2023. Previously, the company paid $0.15 per share.
At the current share price of $40.56 / share, the stock's dividend yield is 1.48%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.19%, the lowest has been 0.40%, and the highest has been 2.36%. The standard deviation of yields is 0.52 (n=146).
The current dividend yield is 0.56 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 1398 funds or institutions reporting positions in EQT. This is a decrease of 44 owner(s) or 3.05% in the last quarter. Average portfolio weight of all funds dedicated to EQT is 0.39%, an increase of 7.45%. Total shares owned by institutions decreased in the last three months by 2.38% to 395,483K shares. 
The put/call ratio of EQT is 0.65, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 18,565K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 16,822K shares, representing an increase of 9.39%. The firm increased its portfolio allocation in EQT by 0.94% over the last quarter.
Bank of New York Mellon holds 13,644K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 13,173K shares, representing an increase of 3.45%. The firm decreased its portfolio allocation in EQT by 6.44% over the last quarter.
Clearbridge Investments holds 11,791K shares representing 3.26% ownership of the company. In it's prior filing, the firm reported owning 12,191K shares, representing a decrease of 3.39%. The firm decreased its portfolio allocation in EQT by 11.73% over the last quarter.
ABALX - AMERICAN BALANCED FUND holds 11,450K shares representing 3.17% ownership of the company. No change in the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 10,549K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 10,625K shares, representing a decrease of 0.72%. The firm increased its portfolio allocation in EQT by 0.70% over the last quarter.
EQT Background Information
(This description is provided by the company.)
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. The company is dedicated to responsibly developing its world-class asset base and being the operator of choice for its stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, EQT seeks to continuously improve the way it produces environmentally responsible, reliable and low-cost energy. The company has a longstanding commitment to the safety of its employees, contractors, and communities, and to the reduction of the overall environmental footprint. Its values are evident in the way EQT operates and in how interacts each day - trust, teamwork, heart, and evolution are at the center of all the company does.
Additional reading:
- EQT Announces Early Results and Upsizing of its Tender Offer for 6.125% Senior Notes due 2025
- EQT Announces Pricing of Tender Offer for 6.125% Senior Notes due 2025
- EQT Commences Tender Offer for 6.125% Senior Notes due 2025
- Sixteenth Supplemental Indenture, dated as of May 10, 2023, between EQT Corporation and The Bank of New York Mellon, as trustee.
- Independent Auditors’ Report
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
