Wells Fargo & Company Boosts EQT (NYSE:EQT) Price Target to $58.00

EQT (NYSE:EQT) had its price objective increased by investment analysts at Wells Fargo & Company from $53.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.92% from the company’s current price.

EQT has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their target price on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Piper Sandler raised their price objective on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Truist Financial upped their target price on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

EQT Stock Performance

NYSE:EQT opened at $53.74 on Wednesday. The company has a market capitalization of $32.11 billion, a P/E ratio of 134.36, a P/E/G ratio of 0.64 and a beta of 1.12. The business has a fifty day simple moving average of $51.17 and a two-hundred day simple moving average of $43.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, analysts expect that EQT will post 3.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EQT. 111 Capital bought a new stake in EQT in the 4th quarter worth $253,000. PKO Investment Management Joint Stock Co purchased a new stake in shares of EQT during the fourth quarter worth about $678,000. Siemens Fonds Invest GmbH bought a new stake in shares of EQT in the fourth quarter worth about $108,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in EQT during the 4th quarter valued at about $5,993,000. Finally, Capital A Wealth Management LLC bought a new position in EQT during the 4th quarter valued at approximately $72,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.