EQT (NYSE:EQT) Upgraded to “Strong-Buy” at Freedom Capital

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

A number of other equities analysts have also weighed in on EQT. Evercore boosted their price objective on shares of EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. JPMorgan Chase & Co. lowered their target price on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, June 23rd. Zacks Research downgraded EQT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Weiss Ratings lowered EQT from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Finally, UBS Group decreased their price objective on EQT from $75.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.96.

EQT Stock Down 1.4%

Shares of NYSE:EQT opened at $52.41 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $32.78 billion, a P/E ratio of 9.94 and a beta of 0.55. EQT has a 52-week low of $48.47 and a 52-week high of $68.24. The stock’s fifty day simple moving average is $55.14 and its 200-day simple moving average is $56.88.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.18 EPS. As a group, equities research analysts forecast that EQT will post 4.5 earnings per share for the current fiscal year.

Insider Activity

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total transaction of $246,136.80. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 102,830 shares of company stock worth $5,602,913. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On EQT

Large investors have recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. purchased a new stake in EQT during the 4th quarter worth $26,000. Aventura Private Wealth LLC purchased a new position in EQT in the 4th quarter valued at about $31,000. Fortitude Family Office LLC boosted its position in EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in shares of EQT during the fourth quarter valued at about $49,000. Finally, Root Financial Partners LLC grew its stake in shares of EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after acquiring an additional 202 shares in the last quarter. 90.81% of the stock is 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.