EQT (NYSE:EQT) Stock Price Expected to Rise, Piper Sandler Analyst Says

EQT (NYSE:EQT) had its target price lifted by Piper Sandler from $34.00 to $35.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer’s stock.

Several other research analysts also recently commented on EQT. Morgan Stanley increased their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. UBS Group increased their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Bank of America assumed coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Mizuho raised EQT from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $49.94.

EQT Trading Up 1.6 %

Shares of NYSE:EQT opened at $50.68 on Wednesday. EQT has a 1 year low of $30.02 and a 1 year high of $54.85. The firm has a market capitalization of $30.24 billion, a price-to-earnings ratio of 60.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The business’s 50 day moving average price is $47.04 and its 200-day moving average price is $39.55.

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

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was 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 directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EQT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC boosted its stake in shares of EQT by 104.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after buying an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its stake in shares of EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after buying an additional 35,733 shares during the period. FMR LLC boosted its stake in shares of EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after buying an additional 28,129 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of EQT by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after buying an additional 5,489 shares during the period. Finally, Howard Financial Services LTD. purchased a new position in shares of EQT in the 4th quarter valued at about $223,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.