EQT (NYSE:EQT) Hits New 12-Month High – Here’s Why

EQT Co. (NYSE:EQT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.59 and last traded at $54.05, with a volume of 1032347 shares traded. The stock had previously closed at $53.43.

Analysts Set New Price Targets

EQT has been the subject of several research reports. 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 report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Monday, December 30th. Citigroup upped their price target on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group upped their price objective on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

EQT Trading Up 2.0 %

The stock’s fifty day moving average price is $46.20 and its 200 day moving average price is $39.03. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $32.51 billion, a PE ratio of 64.89 and a beta of 1.12.

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

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

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