Wells Fargo & Company Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective raised by equities research analysts at Wells Fargo & Company from $59.00 to $63.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.68% from the company’s current price.

Other research analysts also recently issued reports about the stock. Mizuho raised their price objective on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Stephens lowered their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. UBS Group raised shares of EQT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $54.00 to $64.00 in a report on Monday, May 5th. Citigroup lifted their target price on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.39.

EQT Stock Performance

EQT stock traded up $1.67 during midday trading on Monday, hitting $58.51. 3,250,716 shares of the company’s stock were exchanged, compared to its average volume of 7,889,984. EQT has a 12-month low of $30.02 and a 12-month high of $58.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The stock has a market cap of $35.02 billion, a price-to-earnings ratio of 146.40, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. The firm’s 50 day simple moving average is $53.14 and its 200 day simple moving average is $50.67.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equities research analysts predict that EQT will post 3.27 EPS for the current year.

Institutional Investors Weigh In On EQT

Institutional investors have recently bought and sold shares of the business. Zions Bancorporation National Association UT purchased a new stake in EQT during the first quarter worth approximately $35,000. Harbour Investments Inc. lifted its position in shares of EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 226 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted 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 worth $44,000 after purchasing an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.