EQT (NYSE:EQT) Downgraded to “Sector Perform” Rating by Scotiabank

EQT (NYSE:EQT) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $54.00 price objective on the oil and gas producer’s stock. Scotiabank’s price target would suggest a potential upside of 0.27% from the stock’s current price.

A number of other research firms also recently issued reports on EQT. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Monday, December 30th. Wells Fargo & Company lifted their price target on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Morgan Stanley increased their price objective 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. JPMorgan Chase & Co. lifted their target price on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Finally, Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their price target for the company from $48.00 to $57.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $49.89.

EQT Price Performance

Shares of NYSE EQT opened at $53.86 on Friday. The company has a fifty day moving average price of $45.33 and a 200 day moving average price of $38.55. The firm has a market cap of $32.13 billion, a PE ratio of 64.12 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 1-year low of $30.02 and a 1-year high of $53.98.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts predict that EQT will post 1.44 earnings per share for the current fiscal year.

Insider Transactions at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently made changes to their positions in EQT. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in EQT by 195.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 59,000 shares of the oil and gas producer’s stock worth $2,720,000 after purchasing an additional 39,000 shares during the last quarter. Segment Wealth Management LLC bought a new position in EQT during the 4th quarter worth $1,735,000. Ballentine Partners LLC acquired a new stake in shares of EQT during the fourth quarter worth $272,000. Lionsbridge Wealth Management LLC bought a new stake in shares of EQT in the fourth quarter valued at about $399,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of EQT by 15.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock valued at $79,000 after acquiring an additional 236 shares in the last quarter. 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.