EQT (NYSE:EQT) Sets New 12-Month High After Analyst Upgrade

EQT Co. (NYSE:EQT)’s stock price hit a new 52-week high on Thursday after Wells Fargo & Company raised their price target on the stock from $52.00 to $53.00. Wells Fargo & Company currently has an overweight rating on the stock. EQT traded as high as $49.20 and last traded at $48.97, with a volume of 7886481 shares changing hands. The stock had previously closed at $48.15.

Several other research analysts have also issued reports on the stock. StockNews.com raised shares of EQT to a “sell” rating in a research note on Monday, December 30th. Sanford C. Bernstein assumed coverage on shares of EQT in a report on Friday, December 6th. They set a “market perform” rating and a $50.00 target price for the company. Jefferies Financial Group upped their target price on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Mizuho upgraded 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 research report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.83.

Insider Activity at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EQT

Large investors have recently made changes to their positions in the stock. Davis Investment Partners LLC raised its position in 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 worth $1,137,000 after acquiring an additional 317 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of EQT by 7.4% in 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 purchasing an additional 421 shares during the period. Ballentine Partners LLC grew its holdings in EQT by 8.4% during the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock worth $233,000 after purchasing an additional 486 shares during the period. Financial Avengers Inc. increased its position in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares during the last quarter. Finally, Quarry LP increased its position in EQT by 184.7% during the third 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. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 0.0 %

The business has a 50 day moving average of $44.56 and a two-hundred day moving average of $38.26. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market cap of $29.23 billion, a P/E ratio of 58.32 and a beta of 1.14.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Analysts predict that EQT Co. will post 1.37 earnings per share for the current year.

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.