BMO Capital Markets Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQTGet Free Report) had its price target raised by investment analysts at BMO Capital Markets from $68.00 to $76.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.49% from the stock’s current price.

EQT has been the topic of several other reports. The Goldman Sachs Group lowered their price target on EQT from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Stephens boosted their price objective on EQT from $70.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Mizuho increased their target price on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Zacks Research raised EQT from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of EQT in a research report on Sunday, January 18th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.04.

View Our Latest Stock Analysis on EQT

EQT Price Performance

Shares of EQT stock opened at $67.56 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $59.31 and a 200-day simple moving average of $56.41. The stock has a market capitalization of $42.22 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.28 and a beta of 0.72. EQT has a 1-year low of $43.57 and a 1-year high of $67.99.

EQT (NYSE:EQTGet Free Report) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. EQT had a net margin of 23.59% and a return on equity of 7.25%. EQT’s revenue was up 24.8% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. On average, sell-side analysts expect that EQT will post 3.27 earnings per share for the current year.

Insider Activity at EQT

In other EQT news, CAO Todd James sold 32,514 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $61.12, for a total value of $1,987,255.68. Following the completion of the transaction, the chief accounting officer owned 58,796 shares of the company’s stock, valued at $3,593,611.52. This represents a 35.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lesley Evancho sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,213,800.00. Following the completion of the sale, the insider owned 184,607 shares of the company’s stock, valued at $11,203,798.83. This represents a 9.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 61,158 shares of company stock worth $3,742,983 over the last three months. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently bought and sold shares of EQT. Captrust Financial Advisors increased its holdings in EQT by 104.4% in the 4th quarter. Captrust Financial Advisors now owns 40,787 shares of the oil and gas producer’s stock valued at $2,186,000 after buying an additional 20,828 shares during the period. Adalta Capital Management LLC lifted its holdings in shares of EQT by 23.2% during the 4th quarter. Adalta Capital Management LLC now owns 13,920 shares of the oil and gas producer’s stock worth $746,000 after acquiring an additional 2,620 shares during the period. Adams Natural Resources Fund Inc. boosted its position in shares of EQT by 19.1% during the 4th quarter. Adams Natural Resources Fund Inc. now owns 262,600 shares of the oil and gas producer’s stock valued at $14,075,000 after acquiring an additional 42,100 shares in the last quarter. Beck Capital Management LLC increased its stake in EQT by 0.7% in the fourth quarter. Beck Capital Management LLC now owns 119,508 shares of the oil and gas producer’s stock valued at $6,406,000 after acquiring an additional 775 shares during the period. Finally, Motley Fool Asset Management LLC increased its stake in EQT by 9.0% in the fourth quarter. Motley Fool Asset Management LLC now owns 11,075 shares of the oil and gas producer’s stock valued at $594,000 after acquiring an additional 918 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Key EQT News

Here are the key news stories impacting EQT this week:

EQT Company Profile

(Get Free Report)

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

See Also

Analyst Recommendations for EQT (NYSE:EQT)

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