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

EQT (NYSE:EQT) had its price objective increased by Citigroup from $51.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price objective indicates a potential upside of 16.90% from the stock’s previous close.

Several other brokerages have also recently commented on EQT. Piper Sandler raised their target price on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. 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 note on Friday, January 3rd. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. Morgan Stanley raised their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, UBS Group upped their price objective on EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, EQT currently has an average rating of “Hold” and a consensus price target of $53.06.

EQT Stock Up 1.2 %

NYSE EQT traded up $0.61 during mid-day trading on Monday, reaching $51.33. 2,913,565 shares of the company’s stock traded hands, compared to its average volume of 7,266,841. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT has a 1-year low of $30.02 and a 1-year high of $56.66. The company has a fifty day simple moving average of $50.82 and a 200-day simple moving average of $43.59. The company has a market cap of $30.66 billion, a price-to-earnings ratio of 128.23, a P/E/G ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, equities research analysts expect that EQT will post 3.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in shares of EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after buying an additional 32,484 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after purchasing an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock valued at $2,379,000 after purchasing an additional 16,416 shares during the last quarter. FMR LLC boosted its position in EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after buying an additional 28,129 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 762 shares during the last quarter. 90.81% of the stock is currently 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.