Piper Sandler Boosts EQT (NYSE:EQT) Price Target to $35.00

EQT (NYSE:EQT) had its price target boosted by analysts at Piper Sandler from $34.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential downside of 32.23% from the company’s current price.

EQT has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Morgan Stanley lifted their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, Jefferies Financial Group lifted their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Stock Performance

Shares of EQT stock opened at $51.65 on Wednesday. The firm has a 50 day simple moving average of $47.12 and a 200 day simple moving average of $39.63. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $30.82 billion, a P/E ratio of 61.48 and a beta of 1.12.

EQT (NYSE:EQT) last released its 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. Sell-side analysts predict that EQT will post 1.42 earnings per share for the current fiscal year.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now 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 document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EQT

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC bought a new position in shares of EQT in the 3rd quarter valued at about $562,494,000. State Street Corp increased its position in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC grew its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after buying an additional 3,454,741 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.