EQT (NYSE:EQT) Price Target Raised to $56.00

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

EQT has been the subject of a number of other research reports. BMO Capital Markets increased their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $48.00 to $57.00 in a report on Monday, December 16th. Sanford C. Bernstein initiated coverage on shares of EQT in a report on Friday, December 6th. They issued a “market perform” rating and a $50.00 target price for the company. Finally, UBS Group lifted their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.94.

EQT Trading Up 3.3 %

EQT stock opened at $52.38 on Monday. The firm has a market cap of $31.25 billion, a P/E ratio of 62.36 and a beta of 1.12. EQT has a 52-week low of $30.02 and a 52-week high of $53.00. The company’s 50-day simple moving average is $45.09 and its 200-day simple moving average is $38.45. 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 (NYSE:EQT) last released its quarterly earnings data 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. The company 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 quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, equities analysts forecast that EQT will post 1.37 EPS for the current fiscal year.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s 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 directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently bought and sold shares of EQT. HM Payson & Co. purchased a new stake in EQT in the third quarter valued at $25,000. Truvestments Capital LLC purchased a new stake in EQT in the third quarter valued at $30,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares during the last quarter. Quarry LP lifted its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in EQT in the third quarter valued at $36,000. 90.81% of the stock is 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.