UBS Group Issues Pessimistic Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective dropped by research analysts at UBS Group from $55.00 to $54.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price would indicate a potential upside of 5.87% from the stock’s current price.

EQT has been the topic of several other reports. Mizuho lifted their target price on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. StockNews.com lowered shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Citigroup boosted their price target on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Stephens reduced their price objective on EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average price target of $55.56.

EQT Stock Performance

EQT opened at $51.01 on Thursday. The business has a 50 day moving average of $50.75 and a 200-day moving average of $46.61. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market cap of $30.47 billion, a price-to-earnings ratio of 127.52, a PEG ratio of 0.64 and a beta of 1.35. EQT has a 12-month low of $30.02 and a 12-month high of $56.66.

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

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in EQT. Vanguard Group Inc. increased its stake in shares of EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of EQT by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares in the last quarter. Capital International Investors grew its stake in shares of EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after acquiring an additional 2,433,632 shares during the period. Clearbridge Investments LLC increased its stake in shares of EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock worth $637,698,000 after purchasing an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of EQT by 46.3% in the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after acquiring an additional 4,162,065 shares in 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.