Royal Bank of Canada Reaffirms Sector Perform Rating for EQT (NYSE:EQT)

EQT (NYSE:EQT)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $49.00 target price on the oil and gas producer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 9.57% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley increased their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Truist Financial upped their price objective on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and upped their price objective for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.83.

EQT Price Performance

Shares of NYSE EQT opened at $44.72 on Tuesday. The firm has a 50-day simple moving average of $39.90 and a 200-day simple moving average of $37.26. The stock has a market capitalization of $26.68 billion, a price-to-earnings ratio of 53.24 and a beta of 1.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 52 week low of $30.02 and a 52 week high of $48.02.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. On average, equities analysts predict that EQT will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. HM Payson & Co. purchased a new position in shares of EQT in the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in EQT in the second quarter valued at approximately $28,000. Truvestments Capital LLC acquired a new stake in EQT in the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its holdings in EQT by 18,080.0% in the third 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 raised its holdings in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.