EQT (NYSE:EQT) Coverage Initiated by Analysts at Bank of America

Investment analysts at Bank of America began coverage on shares of EQT (NYSE:EQT) in a research report issued on Monday, StockNewsAPI reports. The firm set a “buy” rating and a $50.00 price target on the oil and gas producer’s stock. Bank of America‘s target price would indicate a potential upside of 34.01% from the company’s previous close.

Several other analysts have also weighed in on the company. BMO Capital Markets lifted their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley reissued an “overweight” rating and set a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Scotiabank boosted their price target on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. Stephens decreased their price target on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $32.00 in a research note on Thursday, August 15th. One equities research 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. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $42.61.

EQT Price Performance

Shares of NYSE:EQT opened at $37.31 on Monday. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The firm has a market capitalization of $16.48 billion, a PE ratio of 27.04 and a beta of 1.06. The business’s 50 day moving average is $35.02 and its 200-day moving average is $36.59. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Mariner Investment Group LLC bought a new stake in shares of EQT during the third quarter worth $1,099,000. Forum Financial Management LP raised its position in shares of EQT by 33.1% during the third quarter. Forum Financial Management LP now owns 12,265 shares of the oil and gas producer’s stock worth $449,000 after acquiring an additional 3,052 shares during the last quarter. Emerald Advisers LLC increased its holdings in EQT by 342.7% in the third quarter. Emerald Advisers LLC now owns 27,841 shares of the oil and gas producer’s stock valued at $1,020,000 after purchasing an additional 21,552 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in EQT by 71.7% in the third quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock valued at $7,883,000 after purchasing an additional 89,866 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in EQT in the third quarter valued at about $158,000. Institutional investors own 90.81% of the company’s stock.

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.