EQT (NYSE:EQT) Stock Price Expected to Rise, Stephens Analyst Says

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

Several other equities analysts have also recently issued reports on the stock. Scotiabank lowered their price objective on shares of EQT from $70.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, November 21st. Melius Research began coverage on EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price objective for the company. The Goldman Sachs Group lifted their target price on EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research increased their price target on EQT from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Finally, Piper Sandler boosted their price objective on EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, November 18th. Eighteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average target price of $64.35.

EQT Price Performance

Shares of EQT opened at $61.70 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $38.51 billion, a P/E ratio of 21.18, a PEG ratio of 0.50 and a beta of 0.62. EQT has a 12 month low of $42.27 and a 12 month high of $62.00. The stock has a fifty day moving average price of $56.45 and a 200 day moving average price of $54.93.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. On average, research analysts forecast that EQT will post 3.27 earnings per share for the current year.

Insider Buying and Selling at EQT

In other EQT 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 owned 69,486 shares of the company’s stock, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On EQT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT bought a new position in EQT in the 1st quarter worth $35,000. Harbour Investments Inc. grew its position in EQT by 48.4% in the 1st 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 during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of EQT during the 2nd quarter worth about $41,000. Anchor Investment Management LLC increased its holdings in shares of EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 500 shares during the period. Finally, Private Trust Co. NA raised its position in shares of EQT by 38.1% during the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.