EQT (NYSE:EQT) Rating Reiterated by Piper Sandler

EQT (NYSE:EQT)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a report issued on Tuesday, Benzinga reports. They presently have a $46.00 price target on the oil and gas producer’s stock, up from their previous price target of $41.00. Piper Sandler’s price target would suggest a potential upside of 12.06% from the stock’s current price.

Several other research firms have also recently issued reports on EQT. Jefferies Financial Group raised their price objective on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Stephens boosted their price objective on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Wells Fargo & Company lowered EQT from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $48.00 to $37.00 in a research report on Wednesday, April 17th. Finally, TD Cowen initiated coverage on EQT in a research note on Friday, April 19th. They set a “hold” rating and a $43.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.56.

EQT Price Performance

EQT stock opened at $41.05 on Tuesday. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $36.55 and its 200 day simple moving average is $37.89. The firm has a market capitalization of $18.13 billion, a PE ratio of 29.75 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings data 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. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.70 earnings per share. On average, equities research analysts predict that EQT will post 1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Wealth Management Group LLC bought a new stake in EQT during the fourth quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new position in shares of EQT during the fourth quarter valued at $40,000. Principal Securities Inc. acquired a new position in EQT during the fourth quarter valued at $51,000. Allworth Financial LP raised its position in 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 buying an additional 282 shares during the period. Finally, First Command Advisory Services Inc. acquired a new stake in EQT during the 3rd quarter worth about $54,000. 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.