Stephens Upgrades EQT (NYSE:EQT) to Overweight

EQT (NYSE:EQT) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, MarketBeat.com reports. The brokerage presently has a $59.00 target price on the oil and gas producer’s stock, up from their prior target price of $41.00. Stephens’ price objective would suggest a potential upside of 10.20% from the stock’s current price.

EQT has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. UBS Group raised their target price on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a report on Friday, March 14th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $49.00 target price on shares of EQT in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

EQT Stock Performance

Shares of EQT stock opened at $53.54 on Tuesday. The stock has a 50-day moving average of $51.07 and a 200-day moving average of $43.92. EQT has a one year low of $30.02 and a one year high of $56.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a market cap of $31.99 billion, a PE ratio of 133.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, sell-side analysts expect that EQT will post 3.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EQT. Wellington Management Group LLP raised its stake in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. State Street Corp raised its stake in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares in the last quarter. Invesco Ltd. raised its stake in EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after acquiring an additional 4,162,065 shares in the last quarter. Geode Capital Management LLC raised its stake in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in EQT by 386.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after acquiring an additional 3,454,741 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.