Analysts Set EQT Co. (NYSE:EQT) Target Price at $47.78

Shares of EQT Co. (NYSE:EQT) have been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $47.83.

EQT has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Morgan Stanley lifted their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. StockNews.com upgraded EQT to a “sell” rating in a research report on Monday, December 30th. Finally, Sanford C. Bernstein initiated coverage on EQT in a research report on Friday, December 6th. They set a “market perform” rating and a $50.00 price objective for the company.

EQT Stock Performance

Shares of EQT opened at $48.99 on Wednesday. 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 $50.03. The stock has a 50 day moving average price of $44.56 and a 200 day moving average price of $38.26. The company has a market capitalization of $29.23 billion, a price-to-earnings ratio of 58.32 and a beta of 1.14.

EQT (NYSE:EQT) last posted 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. 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 period last year, the firm posted $0.30 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Research analysts predict that EQT will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC raised its stake in EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after buying an additional 32,484 shares in the last quarter. Retirement Systems of Alabama lifted its holdings in EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after acquiring an additional 35,733 shares during the last quarter. FMR LLC boosted its stake in EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Tidal Investments LLC grew its holdings in shares of EQT by 55.8% during the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after purchasing an additional 21,789 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the period. 90.81% of the stock is currently 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.