EQT’s (EQT) “Overweight” Rating Reiterated at Piper Sandler

EQT (NYSE:EQT)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a report issued on Tuesday, Benzinga reports. They presently have a $46.00 target price on the oil and gas producer’s stock, up from their prior target price of $41.00. Piper Sandler’s price objective would suggest a potential upside of 19.08% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Truist Financial decreased their target price on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. TD Cowen assumed coverage on shares of EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 target price on the stock. Mizuho increased their target price on shares of EQT from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Stephens increased their target price on shares of EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley increased their target price on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, EQT has a consensus rating of “Hold” and a consensus target price of $44.56.

EQT Stock Down 3.6 %

Shares of EQT opened at $38.63 on Tuesday. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The firm has a market cap of $17.06 billion, a P/E ratio of 27.99 and a beta of 1.12. The firm’s 50-day simple moving average is $36.71 and its 200 day simple moving average is $37.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $1.70 EPS. EQT’s quarterly revenue was down 28.8% on a year-over-year basis. On average, analysts forecast that EQT will post 1.01 earnings per share for the current year.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC bought a new position in EQT in the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new position in EQT in the 4th quarter valued at approximately $40,000. Principal Securities Inc. bought a new position in EQT in the 4th quarter valued at approximately $51,000. Allworth Financial LP raised its stake in shares of EQT by 26.9% during the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 282 shares during the last quarter. Finally, First Command Advisory Services Inc. bought a new position in shares of EQT during the third quarter valued at $54,000. 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.