EQT (NYSE:EQT) Price Target Raised to $69.00

EQT (NYSE:EQT) had its price target increased by analysts at Stephens from $60.00 to $69.00 in a research report issued on Friday,MarketScreener reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Stephens’ target price indicates a potential upside of 11.82% from the company’s previous close.

A number of other equities research analysts have also commented on EQT. UBS Group increased their price target on EQT from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Wells Fargo & Company decreased their target price on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Piper Sandler raised their target price on EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Siebert Williams Shank lowered their price objective on shares of EQT from $62.00 to $59.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Finally, Wolfe Research boosted their price objective on shares of EQT from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Eighteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average target price of $64.35.

EQT Stock Performance

NYSE:EQT opened at $61.70 on Friday. The firm has a market capitalization of $38.51 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 0.50 and a beta of 0.62. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 12-month low of $42.27 and a 12-month high of $62.00. The firm has a 50-day moving average price of $56.45 and a 200 day moving average price of $54.93.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the firm posted $0.12 EPS. EQT’s quarterly revenue was up 52.6% compared to the same quarter last year. Research analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

Insider Activity at EQT

In related news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the sale, the executive vice president directly owned 69,486 shares of the company’s stock, valued at $3,668,165.94. The trade was a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of EQT during the first quarter valued at approximately $120,252,000. Vanguard Group Inc. grew its position in EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after purchasing an additional 1,509,054 shares during the period. Sound Shore Management Inc CT bought a new stake in EQT during the 2nd quarter valued at $67,539,000. Situational Awareness LP bought a new stake in EQT during the 1st quarter valued at $52,864,000. Finally, Atalanta Sosnoff Capital LLC acquired a new position in EQT during the first quarter worth $49,392,000. Institutional investors and hedge funds 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.