EQT (NYSE:EQT) Stock Rating Lowered by Scotiabank

EQT (NYSE:EQT) was downgraded by Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $54.00 price target on the oil and gas producer’s stock, down from their previous price target of $55.00. Scotiabank’s price target would suggest a potential upside of 2.01% from the company’s previous close.

EQT has been the topic of a number of other reports. Bank of America assumed coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. Piper Sandler raised their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Truist Financial raised their target price on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Stephens raised their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

EQT Price Performance

Shares of EQT opened at $52.93 on Friday. The business’s 50-day moving average is $45.83 and its two-hundred day moving average is $38.78. The company has a market capitalization of $31.58 billion, a P/E ratio of 63.02 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $53.98.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Research analysts predict that EQT will post 1.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of EQT

Institutional investors have recently made changes to their positions in the company. HM Payson & Co. purchased a new stake in shares of EQT during the 3rd quarter valued at approximately $25,000. Truvestments Capital LLC acquired a new stake in EQT in the 3rd quarter valued at approximately $30,000. Quarry LP raised its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of EQT during the third quarter worth $36,000. 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.