EQT (NYSE:EQT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

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

Other equities analysts have also recently issued research reports about the company. Citigroup raised EQT from a “neutral” rating to a “buy” rating and increased their target price for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. BMO Capital Markets increased their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Bank of America initiated coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Piper Sandler increased their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $44.00.

EQT Stock Performance

EQT stock traded up $1.43 during mid-day trading on Monday, reaching $47.35. 3,315,640 shares of the company traded hands, compared to its average volume of 7,127,856. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day moving average is $38.20 and its two-hundred day moving average is $36.96. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a market capitalization of $28.25 billion, a price-to-earnings ratio of 56.37 and a beta of 1.06.

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

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HM Payson & Co. purchased a new position in shares of EQT during the third quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of EQT in the second quarter valued at approximately $28,000. Truvestments Capital LLC purchased a new stake in shares of EQT during the 3rd quarter worth $30,000. Quarry LP raised its holdings in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in 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 worth $33,000 after purchasing an additional 904 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.