EQT (NYSE:EQT) Stock Price Expected to Rise, UBS Group Analyst Says

EQT (NYSE:EQT) had its price objective upped by investment analysts at UBS Group from $49.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price indicates a potential upside of 2.63% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Truist Financial increased their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Wells Fargo & Company upped 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. Bank of America assumed coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price objective on shares of EQT in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised their target price on EQT from $59.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.89.

EQT Price Performance

EQT traded up $0.25 during trading on Thursday, hitting $52.62. 418,155 shares of the company traded hands, compared to its average volume of 7,847,744. The company has a market cap of $31.39 billion, a PE ratio of 62.31, a P/E/G ratio of 0.62 and a beta of 1.08. EQT has a 1 year low of $30.02 and a 1 year high of $54.85. The stock’s 50-day simple moving average is $48.47 and its two-hundred day simple moving average is $40.81. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several large investors have recently modified their holdings of the company. HM Payson & Co. purchased a new stake in shares of EQT in the third quarter valued at about $25,000. Truvestments Capital LLC acquired a new position in EQT in the 3rd quarter valued at about $30,000. Quarry LP raised its stake in EQT by 184.7% during the 3rd 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. EverSource Wealth Advisors LLC lifted its position in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of EQT in the 3rd quarter valued at approximately $36,000. 90.81% of the stock is 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.