EQT (NYSE:EQT) PT Lowered to $43.00 at Piper Sandler

EQT (NYSE:EQT) had its price target decreased by equities research analysts at Piper Sandler from $47.00 to $43.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential upside of 22.51% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Scotiabank increased their price target on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research note on Tuesday. Wolfe Research began coverage on shares of EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price on the stock. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and increased their price target for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group reduced their price target on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average price target of $45.50.

EQT Stock Up 0.1 %

EQT stock opened at $35.10 on Thursday. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 25.43 and a beta of 1.12. EQT has a 52-week low of $32.07 and a 52-week high of $45.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50 day moving average price of $38.58 and a two-hundred day moving average price of $37.34.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.55%. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted ($0.17) EPS. EQT’s revenue was down 6.5% compared to the same quarter last year. Equities analysts predict that EQT will post 1.32 EPS for the current year.

Insider Activity at EQT

In related news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the transaction, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

A number of large investors have recently made changes to their positions in EQT. Park Avenue Securities LLC lifted its holdings in EQT by 3.8% in the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock worth $302,000 after purchasing an additional 300 shares in the last quarter. Perigon Wealth Management LLC grew its position in EQT by 2.1% in the 4th quarter. Perigon Wealth Management LLC now owns 14,471 shares of the oil and gas producer’s stock valued at $559,000 after acquiring an additional 303 shares during the last quarter. Czech National Bank grew its position in EQT by 0.5% in the 1st quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock valued at $2,683,000 after acquiring an additional 332 shares during the last quarter. Motley Fool Asset Management LLC grew its position in EQT by 5.1% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock valued at $254,000 after acquiring an additional 336 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in shares of EQT by 3.0% during the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 419 shares in the last quarter. 90.81% of the stock is currently 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.