The Goldman Sachs Group Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its target price hoisted by analysts at The Goldman Sachs Group from $59.00 to $66.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 24.77% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Bank of America started coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target for the company. Citigroup boosted their price target on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.89.

EQT Trading Up 1.0 %

NYSE:EQT opened at $52.90 on Wednesday. EQT has a one year low of $30.02 and a one year high of $54.85. 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 firm has a market cap of $31.56 billion, a P/E ratio of 62.97, a P/E/G ratio of 0.62 and a beta of 1.08. The firm has a 50-day simple moving average of $48.47 and a 200-day simple moving average of $40.81.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.63% of the stock is owned by insiders.

Institutional Trading of EQT

Several large investors have recently made changes to their positions in EQT. Wellington Management Group LLP boosted its holdings in shares of EQT by 38.7% in the 3rd 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 during the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT in the 3rd quarter valued at $562,494,000. State Street Corp boosted its holdings in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after acquiring an additional 4,162,065 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 valued at $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other 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.