Wells Fargo & Company Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its target price boosted by research analysts at Wells Fargo & Company from $52.00 to $53.00 in a research report issued to clients and investors 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 8.23% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 target price on shares of EQT in a report on Monday. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Piper Sandler upped 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, Morgan Stanley lifted their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. One equities research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.83.

EQT Price Performance

EQT stock opened at $48.97 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a 50 day moving average price of $44.29 and a 200-day moving average price of $38.19. EQT has a 52-week low of $30.02 and a 52-week high of $49.20. The firm has a market capitalization of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.14.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that EQT will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Several institutional investors have recently made changes to their positions in the company. HM Payson & Co. bought a new position in EQT in the third quarter worth approximately $25,000. Truvestments Capital LLC bought a new position in shares of EQT in the 3rd quarter worth $30,000. Quarry LP lifted its stake 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 purchasing an additional 578 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in 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 valued at $33,000 after purchasing an additional 904 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in EQT in the third quarter valued at about $36,000. 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.