Scotiabank Has Lowered Expectations for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective dropped by Scotiabank from $67.00 to $63.00 in a report released on Wednesday,MarketScreener reports. The firm presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s target price indicates a potential upside of 16.41% from the stock’s previous close.

EQT has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Jefferies Financial Group reiterated a “buy” rating on shares of EQT in a report on Sunday. Stephens increased their target price on shares of EQT from $60.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Capital One Financial lowered their price target on shares of EQT from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group boosted their price target on shares of EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.96.

EQT Stock Up 5.1%

NYSE EQT traded up $2.64 on Wednesday, reaching $54.12. The company had a trading volume of 3,754,383 shares, compared to its average volume of 11,683,086. The company’s fifty day moving average is $55.64 and its 200-day moving average is $54.25. The firm has a market capitalization of $33.77 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 0.38 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. EQT has a 1-year low of $43.57 and a 1-year high of $62.23.

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

Insiders Place Their Bets

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, 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 through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Westpac Banking Corp raised its stake in EQT by 6.6% in the 3rd quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock valued at $145,000 after acquiring an additional 165 shares during the period. Fortitude Family Office LLC boosted its position in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 280 shares during the period. Private Trust Co. NA increased its holdings in shares of EQT by 38.1% in 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 purchasing an additional 283 shares during the last quarter. Rothschild Investment LLC raised its position in shares of EQT by 1.0% in the second quarter. Rothschild Investment LLC now owns 46,436 shares of the oil and gas producer’s stock valued at $2,708,000 after purchasing an additional 463 shares during the period. Finally, Anchor Investment Management LLC raised its position in shares of EQT by 133.3% in the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 500 shares during the period. 90.81% of the stock is currently owned by institutional investors.

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.