EQT (NYSE:EQT) Reaches New 52-Week High on Analyst Upgrade

EQT Co. (NYSE:EQT) reached a new 52-week high during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $52.00 to $53.00. Wells Fargo & Company currently has an overweight rating on the stock. EQT traded as high as $49.20 and last traded at $48.97, with a volume of 7886481 shares. The stock had previously closed at $48.15.

EQT has been the subject of a number of other research reports. Stephens boosted their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a report on Monday. Morgan Stanley boosted their target price on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Bank of America began coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI lifted its position in EQT by 33.6% in the second quarter. National Bank of Canada FI now owns 121,231 shares of the oil and gas producer’s stock valued at $4,448,000 after purchasing an additional 30,492 shares during the period. Victory Capital Management Inc. raised its stake in shares of EQT by 26.4% during the 2nd quarter. Victory Capital Management Inc. now owns 233,196 shares of the oil and gas producer’s stock worth $8,624,000 after buying an additional 48,741 shares in the last quarter. Candriam S.C.A. lifted its holdings in shares of EQT by 9.7% in the 2nd quarter. Candriam S.C.A. now owns 27,869 shares of the oil and gas producer’s stock valued at $1,031,000 after buying an additional 2,459 shares during the period. Ballentine Partners LLC boosted its stake in shares of EQT by 8.4% in the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after buying an additional 486 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of EQT in the second quarter valued at approximately $658,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average of $44.05 and a two-hundred day moving average of $38.12. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.12.

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, topping analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. On average, equities research analysts anticipate that EQT Co. will post 1.37 earnings per share for the current year.

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.