EQT (NYSE:EQT) Lowered to “Sector Perform” Rating by Scotiabank

Scotiabank cut shares of EQT (NYSE:EQT) from a sector outperform rating to a sector perform rating in a report published on Friday, Marketbeat reports. The brokerage currently has $54.00 price objective on the oil and gas producer’s stock, down from their previous price objective of $55.00.

Several other research firms have also weighed in on EQT. Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of EQT to a “sell” rating in a research report on Monday, December 30th. Piper Sandler lifted their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Finally, Morgan Stanley lifted their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

EQT Price Performance

Shares of EQT stock opened at $52.93 on Friday. The business has a 50 day moving average of $45.83 and a 200 day moving average of $38.77. EQT has a 52 week low of $30.02 and a 52 week high of $53.98. The company has a market cap of $31.58 billion, a PE ratio of 63.02 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company posted $0.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that EQT will post 1.44 earnings per share for the current year.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. HM Payson & Co. bought a new position in EQT in the 3rd quarter worth $25,000. Truvestments Capital LLC bought a new position in shares of EQT in the third quarter worth about $30,000. Hexagon Capital Partners LLC lifted its position in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares in the last quarter. Quarry LP grew its stake in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in EQT in the 3rd quarter worth approximately $36,000. Hedge funds and other 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.