EQT (NYSE:EQT) Lifted to “Buy” at Citigroup

EQT (NYSE:EQT) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a $44.00 price target on the oil and gas producer’s stock, up from their previous price target of $37.00. Citigroup’s price target indicates a potential upside of 19.68% from the stock’s current price.

EQT has been the subject of a number of other research reports. Truist Financial cut their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Friday, July 26th. Finally, Stephens lowered their target price on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.71.

EQT Stock Performance

NYSE EQT opened at $36.77 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s fifty day moving average is $33.34 and its two-hundred day moving average is $36.48. The firm has a market capitalization of $16.24 billion, a P/E ratio of 26.64 and a beta of 1.06. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. The company’s revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that EQT will post 1.37 earnings per share for the current year.

Institutional Trading of EQT

Several hedge funds have recently added to or reduced their stakes in EQT. Price T Rowe Associates Inc. MD increased its position in shares of EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. increased its holdings in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp raised its stake in EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after buying an additional 464,781 shares in the last quarter. Wellington Management Group LLP lifted its holdings in EQT by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after buying an additional 632,625 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of EQT by 1.5% during the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after acquiring an additional 265,297 shares in the last quarter. Institutional investors and hedge funds 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.