Wells Fargo & Company Increases EQT (NYSE:EQT) Price Target to $58.00

EQT (NYSE:EQT) had its target price increased by analysts at Wells Fargo & Company from $53.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.92% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group increased their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $54.00 in a research report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Citigroup boosted their price target on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

EQT Price Performance

Shares of NYSE EQT opened at $53.74 on Wednesday. EQT has a 1 year low of $30.02 and a 1 year high of $56.66. The stock has a market capitalization of $32.11 billion, a P/E ratio of 134.36, a P/E/G ratio of 0.64 and a beta of 1.12. The company’s 50-day moving average is $51.17 and its 200 day moving average is $43.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 4.35% and a net margin of 4.37%. On average, sell-side analysts expect that EQT will post 3.27 earnings per share for the current year.

Hedge Funds Weigh In On EQT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its holdings in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the period. Wilmington Savings Fund Society FSB raised its stake in EQT by 4.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after buying an additional 223 shares during the last quarter. Huntington National Bank lifted its holdings in shares of EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock valued at $151,000 after buying an additional 224 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of EQT by 15.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after buying an additional 236 shares during the last quarter. Institutional investors 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.