EQT (NYSE:EQT) Rating Increased to Buy at TD Cowen

EQT (NYSE:EQT) was upgraded by stock analysts at TD Cowen from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday,Finviz reports. The brokerage currently has a $54.00 price target on the oil and gas producer’s stock. TD Cowen’s price objective would suggest a potential upside of 14.39% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Piper Sandler lifted their target price on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Morgan Stanley reiterated an “overweight” rating and set a $67.00 price objective (up previously from $63.00) on shares of EQT in a research note on Wednesday, March 26th. StockNews.com downgraded EQT from a “hold” rating to a “sell” rating in a report on Monday. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. Finally, The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.72.

EQT Trading Up 2.4 %

Shares of EQT opened at $47.21 on Tuesday. EQT has a 1-year low of $30.02 and a 1-year high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm’s 50-day moving average price is $51.22 and its 200-day moving average price is $45.77. The firm has a market capitalization of $28.20 billion, a price-to-earnings ratio of 118.02, a PEG ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Sell-side analysts anticipate that EQT will post 3.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC grew its position in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after buying an additional 223 shares during the last quarter. Huntington National Bank raised its position in EQT by 7.4% in the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock worth $151,000 after acquiring an additional 224 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of EQT by 15.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after acquiring an additional 236 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.