EQT (NYSE:EQT) Raised to Strong-Buy at Freedom Capital

EQT (NYSE:EQT) was upgraded by Freedom Capital to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. UBS Group lowered their target price on shares of EQT from $75.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Roth Mkm reaffirmed a “neutral” rating on shares of EQT in a research report on Tuesday, April 14th. JPMorgan Chase & Co. decreased their price objective on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. Piper Sandler raised their price objective on EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Finally, Sanford C. Bernstein dropped their target price on EQT from $73.00 to $69.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average target price of $67.96.

EQT Stock Performance

Shares of EQT stock opened at $52.41 on Tuesday. The company has a market capitalization of $32.78 billion, a PE ratio of 9.94 and a beta of 0.55. The company has a 50-day simple moving average of $55.14 and a two-hundred day simple moving average of $56.88. EQT has a one year low of $48.47 and a one year high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business earned $1.18 EPS. Research analysts expect that EQT will post 4.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Toby Z. Rice sold 96,983 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $54.28, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 102,830 shares of company stock worth $5,602,913. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in shares of EQT by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after acquiring an additional 215 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of EQT by 4.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock worth $392,000 after acquiring an additional 236 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in shares of EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 280 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Company Profile

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.