EQT (NYSE:EQT) Now Covered by Analysts at Wolfe Research

Equities researchers at Wolfe Research initiated coverage on shares of EQT (NYSE:EQT) in a research note issued on Thursday, StockNewsAPI reports. The firm set an “outperform” rating and a $51.00 price target on the oil and gas producer’s stock. Wolfe Research’s price objective indicates a potential upside of 43.30% from the company’s previous close.

A number of other research firms also recently issued reports on EQT. Mizuho boosted their price target on shares of EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price objective (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Morgan Stanley lifted their price objective on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.67.

EQT Price Performance

Shares of NYSE EQT opened at $35.59 on Thursday. The firm has a 50-day simple moving average of $39.05 and a 200-day simple moving average of $37.45. The stock has a market capitalization of $15.72 billion, a price-to-earnings ratio of 25.79 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 52 week low of $32.07 and a 52 week high of $45.23.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $1.70 earnings per share. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, equities analysts predict that EQT will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at EQT

In other EQT news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of EQT by 3.6% during the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock valued at $20,817,000 after purchasing an additional 18,804 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of EQT by 421.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after purchasing an additional 52,443 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of EQT by 162.4% during the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after purchasing an additional 32,409 shares in the last quarter. National Bank of Canada FI raised its stake in shares of EQT by 600.0% during the fourth quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock valued at $3,731,000 after purchasing an additional 82,176 shares in the last quarter. Finally, Third Point LLC bought a new stake in shares of EQT during the fourth quarter valued at about $75,387,000. 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.