EQT (NYSE:EQT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

EQT (NYSE:EQT) had its target price hoisted by stock analysts at Wells Fargo & Company from $53.00 to $58.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s target price points to a potential upside of 9.49% from the company’s previous close.

Several other brokerages have also issued reports on EQT. UBS Group increased their price target on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Jefferies Financial Group raised their price objective on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Finally, Piper Sandler raised their price objective on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $54.50.

EQT Trading Up 0.8 %

EQT traded up $0.42 during trading on Wednesday, hitting $52.98. 1,111,714 shares of the stock traded hands, compared to its average volume of 8,367,525. The firm has a market capitalization of $31.65 billion, a P/E ratio of 132.30, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm has a 50-day moving average of $50.98 and a 200 day moving average of $43.85. EQT has a 12-month low of $30.02 and a 12-month high of $56.66.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities research analysts anticipate that EQT will post 3.27 EPS for the current year.

Institutional Investors Weigh In On EQT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in EQT during the 3rd quarter worth approximately $30,000. Quarry LP raised its stake in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Brown Brothers Harriman & Co. bought a new stake in EQT during the 3rd quarter worth approximately $36,000. Financial Avengers Inc. raised its stake in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares during the period. Finally, University of Texas Texas AM Investment Management Co. raised its position in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 310 shares during the last quarter. 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.