Scotiabank Boosts EQT (NYSE:EQT) Price Target to $54.00

EQT (NYSE:EQT) had its price target raised by Scotiabank from $52.00 to $54.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the oil and gas producer’s stock. Scotiabank’s price objective indicates a potential upside of 34.93% from the stock’s previous close.

A number of other analysts have also issued reports on EQT. Morgan Stanley increased their price target on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Wells Fargo & Company lowered shares of EQT from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $48.00 to $37.00 in a research report on Wednesday, April 17th. Jefferies Financial Group increased 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 price objective (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, Truist Financial lowered their price target on EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 5th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.69.

EQT Trading Up 0.3 %

EQT stock traded up $0.11 during mid-day trading on Thursday, reaching $40.02. 3,929,814 shares of the stock traded hands, compared to its average volume of 6,516,571. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 52-week low of $31.58 and a 52-week high of $45.23. The company has a market cap of $17.67 billion, a P/E ratio of 29.00 and a beta of 1.09. The stock’s fifty day moving average is $37.05 and its 200-day moving average is $37.76.

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 company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 earnings per share. As a group, sell-side analysts expect that EQT will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its holdings in EQT by 3.7% during the 3rd quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock worth $299,000 after purchasing an additional 264 shares during the last quarter. Allworth Financial LP raised its holdings in shares of EQT by 26.9% during the 3rd quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 282 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of EQT by 0.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock worth $1,285,000 after buying an additional 294 shares in the last quarter. Huntington National Bank raised its holdings in shares of EQT by 20.0% during the 3rd quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 299 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in shares of EQT by 13.0% during the 3rd quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 300 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

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.