Bank of America Initiates Coverage on EQT (NYSE:EQT)

Equities research analysts at Bank of America initiated coverage on shares of EQT (NYSE:EQT) in a research report issued on Monday, StockNewsAPI reports. The firm set a “buy” rating and a $50.00 price target on the oil and gas producer’s stock. Bank of America‘s target price would suggest a potential upside of 34.01% from the stock’s previous close.

EQT has been the subject of a number of other research reports. Truist Financial decreased their price target on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. StockNews.com upgraded EQT to a “sell” rating in a research report on Friday, July 26th. Finally, UBS Group decreased their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average price target of $42.61.

EQT Stock Performance

NYSE:EQT opened at $37.31 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 27.04 and a beta of 1.06. The stock has a fifty day simple moving average of $35.02 and a 200 day simple moving average of $36.59.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. increased its position in EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after buying an additional 3,942,802 shares during the period. Bank of New York Mellon Corp increased its position in EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after buying an additional 464,781 shares during the period. Modera Wealth Management LLC bought a new position in EQT in the 3rd quarter worth approximately $562,494,000. Finally, Clearbridge Investments LLC increased its position in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares during the period. 90.81% of the stock is owned by institutional investors.

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.