EQT (NYSE:EQT) Price Target Raised to $55.00

EQT (NYSE:EQT) had its price target lifted by Scotiabank from $54.00 to $55.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “sector outperform” rating on the oil and gas producer’s stock. Scotiabank’s target price points to a potential upside of 47.81% from the company’s previous close.

EQT has been the topic of a number of other reports. The Goldman Sachs Group cut their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Piper Sandler reissued an “overweight” rating and set a $46.00 target price (up from $41.00) on shares of EQT in a research note on Tuesday, April 30th. Morgan Stanley raised their target price on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, EQT presently has an average rating of “Hold” and a consensus target price of $45.29.

EQT Stock Performance

NYSE:EQT traded up $0.02 during mid-day trading on Friday, hitting $37.21. The stock had a trading volume of 3,692,103 shares, compared to its average volume of 6,455,497. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $39.37 and a 200-day simple moving average of $37.54. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 26.96 and a beta of 1.12. EQT has a 52 week low of $32.07 and a 52 week high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $1.70 earnings per share. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. On average, research analysts expect that EQT will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at EQT

In related news, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other EQT news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the transaction, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

Institutional Trading of EQT

Hedge funds have recently modified their holdings of the company. Private Wealth Management Group LLC acquired a new position in EQT in the fourth quarter valued at about $30,000. Wolff Wiese Magana LLC lifted its stake in EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 908 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of EQT in the fourth quarter valued at approximately $40,000. Principal Securities Inc. acquired a new stake in shares of EQT during the fourth quarter worth $51,000. Finally, EntryPoint Capital LLC bought a new stake in EQT in the 1st quarter valued at $54,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.