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

EQT (NYSE:EQT) had its target price raised by Wells Fargo & Company from $52.00 to $53.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other research firms have also weighed in on EQT. Stephens increased their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Truist Financial raised their price objective on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their target price on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Finally, Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $57.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.83.

EQT Stock Down 0.0 %

Shares of NYSE EQT opened at $48.99 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $29.23 billion, a PE ratio of 58.32 and a beta of 1.14. The firm’s 50-day moving average is $44.56 and its 200-day moving average is $38.26. EQT has a 1 year low of $30.02 and a 1 year high of $50.03.

EQT (NYSE:EQT) last released its earnings results 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. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts expect that EQT will post 1.37 EPS for the current year.

Insider Transactions at EQT

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 sale, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EQT. Wellington Management Group LLP lifted its holdings in EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT during the 3rd quarter worth about $562,494,000. State Street Corp grew its stake in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC grew its stake in EQT by 34.4% in 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 buying an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in EQT in the 3rd quarter valued at about $97,979,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.