Sanford C. Bernstein Upgrades EQT (NYSE:EQT) to “Outperform”

Sanford C. Bernstein upgraded shares of EQT (NYSE:EQT) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have $73.00 target price on the oil and gas producer’s stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $57.00 in a report on Monday, December 16th. Citigroup lifted their price objective on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Piper Sandler upped their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Stock Up 3.3 %

NYSE EQT opened at $52.38 on Wednesday. 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 has a 52 week low of $30.02 and a 52 week high of $53.00. The firm has a market capitalization of $31.25 billion, a price-to-earnings ratio of 62.36 and a beta of 1.12. The company has a fifty day moving average of $45.09 and a two-hundred day moving average of $38.45.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the firm posted $0.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict 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 business’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 transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. State Street Corp raised its stake in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in EQT in the third quarter valued at about $562,494,000. Geode Capital Management LLC boosted its holdings in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after acquiring an additional 253,186 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other 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.