EQT (NYSE:EQT) PT Raised to $40.00 at BMO Capital Markets

EQT (NYSE:EQT) had its price objective increased by BMO Capital Markets from $39.00 to $40.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective suggests a potential upside of 6.81% from the stock’s current price.

A number of other brokerages also recently commented on EQT. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Friday, July 26th. UBS Group decreased their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Stephens reduced their target price on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Finally, Mizuho decreased their target price on shares of EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.18.

EQT Price Performance

Shares of EQT stock traded down $0.22 during trading on Friday, hitting $37.45. 3,792,146 shares of the company were exchanged, compared to its average volume of 7,113,550. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average price of $33.41 and a 200 day moving average price of $36.49. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 27.12 and a beta of 1.06.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, equities analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently made changes to their positions in EQT. Innealta Capital LLC bought a new position in shares of EQT in the 2nd quarter worth about $28,000. Wolff Wiese Magana LLC raised its stake in EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares during the period. Blue Trust Inc. lifted its holdings in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in EQT by 414.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,186 shares during the period. Finally, Industrial Alliance Investment Management Inc. grew its holdings in shares of EQT by 65.5% during the second quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 570 shares during the last quarter. 90.81% of the stock is 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.