Truist Financial Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price lifted by Truist Financial from $41.00 to $56.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a hold rating on the oil and gas producer’s stock.

Several other equities analysts have also issued reports on EQT. Bank of America assumed coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Morgan Stanley raised their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. BMO Capital Markets upped their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Sanford C. Bernstein initiated coverage on shares of EQT in a research report on Friday, December 6th. They issued a “market perform” rating and a $50.00 price objective on the stock. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average target price of $48.67.

EQT Stock Up 2.2 %

Shares of EQT opened at $50.07 on Monday. The firm has a market cap of $29.88 billion, a P/E ratio of 59.61 and a beta of 1.12. EQT has a 1 year low of $30.02 and a 1 year high of $50.12. The stock has a 50 day simple moving average of $44.83 and a two-hundred day simple moving average of $38.36. 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 (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 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 company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts forecast that EQT will post 1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Davis Investment Partners LLC raised its holdings in shares of EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after purchasing an additional 317 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in EQT by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 421 shares during the last quarter. Financial Avengers Inc. lifted its holdings in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 504 shares during the period. Quarry LP boosted its stake in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares during the last quarter. Finally, Pullen Investment Management LLC grew its holdings in shares of EQT by 2.6% in the third quarter. Pullen Investment Management LLC now owns 22,898 shares of the oil and gas producer’s stock worth $839,000 after acquiring an additional 581 shares during the period. Institutional investors 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.