EQT (NYSE:EQT) Price Target Raised to $35.00 at Piper Sandler

EQT (NYSE:EQT) had its price target hoisted by Piper Sandler from $34.00 to $35.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

EQT has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley lifted their price target on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.94.

EQT Price Performance

EQT stock opened at $51.03 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company’s fifty day moving average price is $47.21 and its 200-day moving average price is $39.72. EQT has a one year low of $30.02 and a one year high of $54.85. The company has a market capitalization of $30.45 billion, a PE ratio of 60.75, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that EQT will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly 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 document filed with the SEC, which is available through this link. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQT. Wellington Management Group LLP increased its holdings in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC purchased a new position in shares of EQT in the third quarter worth about $562,494,000. State Street Corp lifted its holdings in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC increased its holdings in EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after buying an additional 3,454,741 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.