EQT (NYSE:EQT) Stock Price Expected to Rise, Piper Sandler Analyst Says

EQT (NYSE:EQT) had its price target lifted by equities researchers at Piper Sandler from $34.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price target points to a potential downside of 29.90% from the company’s previous close.

EQT has been the topic of several other research reports. BMO Capital Markets increased their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and raised their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. Citigroup raised their target price on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. 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, UBS Group raised their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment 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 MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Trading Up 0.1 %

Shares of EQT opened at $49.93 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12-month low of $30.02 and a 12-month high of $54.85. The firm has a 50-day moving average price of $47.04 and a 200 day moving average price of $39.55. The firm has a market capitalization of $29.79 billion, a P/E ratio of 59.44 and a beta of 1.12.

EQT (NYSE:EQT) last issued 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 analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. Sell-side analysts forecast that EQT will post 1.42 EPS for the current year.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EQT

Hedge funds and other institutional investors have recently bought and sold shares of the business. HM Payson & Co. acquired a new stake in EQT in the third quarter valued at $25,000. Truvestments Capital LLC acquired a new position in shares of EQT during the 3rd quarter worth $30,000. Quarry LP raised its stake in shares of EQT by 184.7% during the 3rd 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. Hexagon Capital Partners LLC raised its stake in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of EQT during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.