EQT (NYSE:EQT) Coverage Initiated by Analysts at TD Cowen

Research analysts at TD Cowen began coverage on shares of EQT (NYSE:EQT) in a research note issued to investors on Friday, StockNewsAPI reports. The firm set a “hold” rating and a $43.00 price target on the oil and gas producer’s stock. TD Cowen’s target price would suggest a potential upside of 18.07% from the stock’s current price.

Several other research firms have also recently weighed in on EQT. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Scotiabank raised shares of EQT from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. Jefferies Financial Group upped their price target on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Piper Sandler lifted their price objective on shares of EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, Morgan Stanley increased their target price on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has an average rating of “Hold” and a consensus target price of $43.75.

EQT Stock Performance

Shares of NYSE:EQT traded up $0.20 on Friday, hitting $36.42. The company had a trading volume of 335,856 shares, compared to its average volume of 6,358,076. The stock has a 50 day moving average price of $35.88 and a 200 day moving average price of $38.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 8.57 and a beta of 1.12. EQT has a 1-year low of $30.84 and a 1-year high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. EQT’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 EPS. Analysts expect that EQT will post 1.4 EPS for the current year.

Institutional Investors Weigh In On EQT

Several hedge funds have recently modified their holdings of EQT. Price T Rowe Associates Inc. MD raised its position in EQT by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock valued at $2,044,484,000 after purchasing an additional 3,159,700 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of EQT by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after acquiring an additional 2,023,222 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of EQT by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock worth $731,979,000 after acquiring an additional 1,098,211 shares during the period. Finally, Capital World Investors boosted its stake in shares of EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after purchasing an additional 265,297 shares during the last quarter. 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.