EQT (NYSE:EQT) Price Target Raised to $42.00

EQT (NYSE:EQT) had its price target hoisted by investment analysts at UBS Group from $40.00 to $42.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective would indicate a potential upside of 15.32% from the stock’s previous close.

Several other research firms have also recently weighed in on EQT. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Friday, July 26th. Truist Financial reduced their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Mizuho reduced their target price on shares of EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Scotiabank increased their target price on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Finally, BMO Capital Markets increased their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

EQT Trading Up 2.2 %

Shares of EQT traded up $0.80 on Monday, reaching $36.42. 952,364 shares of the company’s stock were exchanged, compared to its average volume of 7,010,112. The company has a current ratio of 0.51, a quick ratio of 0.73 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $16.08 billion, a P/E ratio of 43.36 and a beta of 1.06. The business has a 50 day moving average price of $35.24 and a two-hundred day moving average price of $36.60. EQT has a 12 month low of $30.02 and a 12 month high of $44.47.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Research analysts anticipate that EQT will post 1.42 earnings per share for the current year.

Institutional Investors Weigh In On EQT

Several hedge funds have recently added to or reduced their stakes in EQT. Cetera Investment Advisers bought a new position in EQT during the 1st quarter worth approximately $2,274,000. UniSuper Management Pty Ltd increased its stake in shares of EQT by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after acquiring an additional 24,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of EQT by 17.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock valued at $17,374,000 after acquiring an additional 70,325 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of EQT in the 1st quarter valued at $4,073,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.