EQT’s (EQT) Sector Perform Rating Reaffirmed at Royal Bank of Canada

EQT (NYSE:EQT)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They presently have a $49.00 price objective on the oil and gas producer’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 2.49% from the stock’s current price.

EQT has been the subject of a number of other research reports. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. BMO Capital Markets upped their target price on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. StockNews.com raised EQT to a “sell” rating in a research report on Monday, December 30th. Stephens boosted their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

EQT Stock Performance

Shares of NYSE EQT traded up $0.79 during trading hours on Monday, hitting $47.81. 1,620,548 shares of the stock were exchanged, compared to its average volume of 6,570,038. 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 has a one year low of $30.02 and a one year high of $48.33. The company’s 50 day moving average is $43.42 and its 200 day moving average is $37.89. The firm has a market capitalization of $28.53 billion, a P/E ratio of 56.92 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts expect that EQT will post 1.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC raised its position in shares of EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after acquiring an additional 32,484 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares in the last quarter. FMR LLC raised its stake in EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after buying an additional 28,129 shares during the period. Tidal Investments LLC raised its position in shares of EQT by 55.8% during the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after purchasing an additional 21,789 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. 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.