EQT (NYSE:EQT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

EQT (NYSE:EQT) had its price objective upped by Wells Fargo & Company from $42.00 to $52.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 14.09% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Bank of America started coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. UBS Group boosted their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Morgan Stanley boosted their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Stock Down 0.9 %

EQT stock opened at $45.58 on Monday. The firm’s fifty day simple moving average is $38.70 and its 200-day simple moving average is $37.05. The company has a market capitalization of $27.20 billion, a P/E ratio of 54.26 and a beta of 1.06. 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 12 month low of $30.02 and a 12 month high of $48.02.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that EQT will post 1.35 earnings per share for the current year.

Institutional Trading of EQT

Hedge funds have recently made changes to their positions in the business. HM Payson & Co. acquired a new stake in shares of EQT during the third quarter worth about $25,000. Innealta Capital LLC acquired a new stake in shares of EQT during the second quarter worth about $28,000. Truvestments Capital LLC acquired a new stake in shares of EQT during the third quarter worth about $30,000. Quarry LP lifted its position in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares in the last quarter. Institutional investors and hedge funds 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.