Zacks Research Downgrades EQT (NYSE:EQT) to Strong Sell

EQT (NYSE:EQT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley dropped their price target on shares of EQT from $74.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Roth Capital reissued a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. Citigroup dropped their target price on EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday. Sanford C. Bernstein cut their target price on EQT from $73.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $69.00 price target on shares of EQT in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.08.

EQT Stock Performance

NYSE EQT opened at $52.58 on Tuesday. The company has a market cap of $32.89 billion, a P/E ratio of 12.20 and a beta of 0.55. The company has a fifty day simple moving average of $52.48 and a 200 day simple moving average of $56.48. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT has a 12-month low of $47.94 and a 12-month high of $68.24.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm’s quarterly revenue was down 29.2% on a year-over-year basis. During the same period last year, the business posted $0.45 earnings per share. Sell-side analysts predict that EQT will post 4.08 earnings per share for the current fiscal year.

Insider Activity at EQT

In other news, CEO Toby Z. Rice sold 96,983 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $54.28, for a total value of $5,264,237.24. Following the transaction, the chief executive officer owned 2,334,924 shares in the company, valued at $126,739,674.72. The trade was a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of EQT

Hedge funds have recently bought and sold shares of the business. KTF Investments LLC bought a new position in EQT in the 4th quarter valued at $8,885,000. Reaves W H & Co. Inc. raised its stake in shares of EQT by 12.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after purchasing an additional 132,741 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of EQT by 495.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares during the period. Whittier Trust Co. boosted its holdings in shares of EQT by 9.6% in the 1st quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer’s stock worth $38,857,000 after buying an additional 56,149 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of EQT by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after buying an additional 48,587 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Key Stories Impacting EQT

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Citigroup maintains a Buy rating. Citi lowered its price target from $70 to $67 but still implies substantial upside from current levels, signaling continued confidence in EQT’s valuation and natural-gas outlook. Citi Keeps Their Buy Rating on EQT
• Positive Sentiment: Long-term gas demand is becoming a central investment thesis. EQT is positioning its production and infrastructure to benefit from data-center electricity demand, power contracts, pipeline expansion and global LNG growth. This could improve demand visibility over time, although near-term execution remains important. How EQT Is Positioning for Data Center, Power & Global LNG Demand
• Positive Sentiment: Energy-sector rotation is providing a relative boost. Some investors are shifting capital away from technology stocks after an AI-related selloff and toward energy companies, with EQT identified as a favored natural-gas name. Stocks Standing Out as the Tech Rally Cracks
• Neutral Sentiment: Several headlines concern EQT AB, not EQT Corporation. EQT AB is selling Quantios and is pursuing a bid for Australia’s Perpetual. These private-equity transactions do not directly affect NYSE-listed EQT Corporation’s operating results or valuation and may create headline confusion. EQT to Sell Quantios Perpetual Rejects EQT Takeover Offer
• Negative Sentiment: Fundamentals remain a constraint. EQT recently missed quarterly EPS and revenue expectations, while revenue declined year over year. The lower Citi target also reflects more measured near-term expectations despite the retained Buy rating.

About EQT

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.