Truist Financial Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its target price boosted by investment analysts at Truist Financial from $32.00 to $41.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price objective would suggest a potential downside of 9.47% from the stock’s previous close.

Several other brokerages have also commented on EQT. Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Morgan Stanley increased their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group boosted their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Trading Down 0.6 %

Shares of EQT stock opened at $45.29 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 1 year low of $30.02 and a 1 year high of $48.02. The firm has a market cap of $27.02 billion, a PE ratio of 53.92 and a beta of 1.06. The company has a 50 day simple moving average of $38.93 and a two-hundred day simple moving average of $37.11.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. During the same period in the previous year, the firm posted $0.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that EQT will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of EQT

Several large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new position in EQT in the 3rd quarter worth $25,000. Innealta Capital LLC bought a new position in EQT in the second quarter worth about $28,000. Truvestments Capital LLC purchased a new stake in EQT in the third quarter worth about $30,000. Hexagon Capital Partners LLC boosted its position in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Institutional investors 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.