Fintel reports that on October 2, 2023, Morgan Stanley maintained coverage of EQT (NYSE:EQT) with a Overweight recommendation.
Analyst Price Forecast Suggests 25.75% Upside
As of August 31, 2023, the average one-year price target for EQT is 49.15. The forecasts range from a low of 35.35 to a high of $68.25. The average price target represents an increase of 25.75% from its latest reported closing price of 39.09.
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The projected annual revenue for EQT is 10,848MM, an increase of 22.61%. The projected annual non-GAAP EPS is 9.98.
EQT Declares $0.15 Dividend
On July 19, 2023 the company declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of August 9, 2023 received the payment on September 1, 2023. Previously, the company paid $0.15 per share.
At the current share price of $39.09 / share, the stock's dividend yield is 1.53%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.26%, the lowest has been 0.47%, and the highest has been 2.36%. The standard deviation of yields is 0.48 (n=146).
The current dividend yield is 0.57 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.07. 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 1387 funds or institutions reporting positions in EQT. This is an increase of 59 owner(s) or 4.44% in the last quarter. Average portfolio weight of all funds dedicated to EQT is 0.42%, an increase of 7.22%. Total shares owned by institutions increased in the last three months by 4.32% to 423,199K shares. 
The put/call ratio of EQT is 0.61, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 37,407K shares representing 9.10% ownership of the company. In it's prior filing, the firm reported owning 492K shares, representing an increase of 98.69%. The firm increased its portfolio allocation in EQT by 20,491.78% over the last quarter.
Capital World Investors holds 16,971K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 18,565K shares, representing a decrease of 9.39%. The firm increased its portfolio allocation in EQT by 9.64% over the last quarter.
Bank of New York Mellon holds 16,940K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 13,644K shares, representing an increase of 19.46%. The firm increased its portfolio allocation in EQT by 46.58% over the last quarter.
Wellington Management Group Llp holds 12,161K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 8,691K shares, representing an increase of 28.53%. The firm increased its portfolio allocation in EQT by 72.10% over the last quarter.
Clearbridge Investments holds 11,776K shares representing 2.86% ownership of the company. In it's prior filing, the firm reported owning 11,791K shares, representing a decrease of 0.13%. The firm increased its portfolio allocation in EQT by 21.57% 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.
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