EQT (NYSE:EQT) Price Target Raised to $42.00 at UBS Group

EQT (NYSE:EQT) had its price objective raised by UBS Group from $40.00 to $42.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective would suggest a potential upside of 11.88% from the stock’s current price.

Several other equities analysts have also recently weighed in on EQT. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. Truist Financial lowered their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Stephens lifted their price objective on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho lowered their price objective on shares of EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Finally, Bank of America initiated coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT has an average rating of “Moderate Buy” and an average target price of $42.83.

EQT Price Performance

NYSE EQT opened at $37.54 on Monday. The stock has a market capitalization of $16.58 billion, a P/E ratio of 44.69 and a beta of 1.06. EQT has a 1 year low of $30.02 and a 1 year high of $44.47. The business’s fifty day moving average is $35.41 and its two-hundred day moving average is $36.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. On average, research analysts forecast that EQT will post 1.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

Large investors have recently bought and sold shares of the business. Modera Wealth Management LLC acquired a new position in EQT during the 3rd quarter worth $562,494,000. Price T Rowe Associates Inc. MD lifted its position in EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after acquiring an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. lifted its position in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Canoe Financial LP acquired a new position in EQT during the 3rd quarter worth $89,907,000. Finally, Merewether Investment Management LP acquired a new position in EQT during the 2nd quarter worth $69,452,000. 90.81% of the stock is currently owned by institutional investors.

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.