EQT (NYSE:EQT) Price Target Raised to $53.00

EQT (NYSE:EQT) had its target price hoisted by equities research analysts at Wells Fargo & Company from $52.00 to $53.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.23% from the stock’s current price.

Several other equities research analysts also recently issued reports on EQT. Truist Financial lifted their price target on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Bank of America assumed coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Jefferies Financial Group raised their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Stephens upped their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.83.

EQT Stock Up 1.7 %

Shares of EQT traded up $0.82 during midday trading on Wednesday, reaching $48.97. 7,800,954 shares of the company were exchanged, compared to its average volume of 7,568,986. EQT has a 1-year low of $30.02 and a 1-year high of $49.20. The stock has a 50-day moving average price of $43.84 and a 200-day moving average price of $38.04. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate 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%. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. Research analysts expect that EQT will post 1.37 earnings per share for the current year.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EQT. National Bank of Canada FI boosted its position in shares of EQT by 33.6% during the 2nd quarter. National Bank of Canada FI now owns 121,231 shares of the oil and gas producer’s stock valued at $4,448,000 after purchasing an additional 30,492 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in EQT by 26.4% during the second quarter. Victory Capital Management Inc. now owns 233,196 shares of the oil and gas producer’s stock worth $8,624,000 after buying an additional 48,741 shares in the last quarter. Candriam S.C.A. grew its position in EQT by 9.7% in the second quarter. Candriam S.C.A. now owns 27,869 shares of the oil and gas producer’s stock worth $1,031,000 after buying an additional 2,459 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of EQT by 8.4% during the 2nd quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after acquiring an additional 486 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of EQT during the 2nd quarter worth $658,000. 90.81% of the stock is currently owned by institutional investors.

EQT Company Profile

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.