Wells Fargo & Company Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price upped by investment analysts at Wells Fargo & Company from $42.00 to $52.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.82% from the stock’s previous close.

Several other brokerages also recently weighed in on EQT. Bank of America began coverage on EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and raised their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Mizuho boosted their price target on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Stephens raised their price objective on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

EQT Price Performance

EQT stock traded up $1.43 during mid-day trading on Monday, hitting $47.35. 3,315,640 shares of the company were exchanged, compared to its average volume of 7,127,856. The company has a market capitalization of $28.25 billion, a P/E ratio of 56.37 and a beta of 1.06. The business’s 50 day simple moving average is $38.20 and its two-hundred day simple moving average is $36.96. EQT has a 12-month low of $30.02 and a 12-month high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last announced its quarterly earnings results 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. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. Analysts forecast that EQT will post 1.35 earnings per share for the current fiscal year.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently made changes to their positions in EQT. HM Payson & Co. acquired a new stake in shares of EQT during the third quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in shares of EQT in the second quarter valued at $28,000. Truvestments Capital LLC acquired a new stake in shares of EQT in the third quarter worth $30,000. Hexagon Capital Partners LLC grew its holdings in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares in the last quarter. Finally, Quarry LP lifted its stake in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

About EQT

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.