EQT (NYSE:EQT) Price Target Raised to $62.00

EQT (NYSE:EQT) had its target price increased by equities researchers at Royal Bank Of Canada from $60.00 to $62.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas producer’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 8.45% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Citigroup upped their price target on EQT from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Melius initiated coverage on EQT in a research note on Wednesday, August 20th. They set a “buy” rating and a $64.00 target price on the stock. Barclays boosted their price objective on EQT from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of EQT in a report on Saturday, September 27th. Finally, Scotiabank increased their price target on shares of EQT from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 13th. Fifteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, EQT has an average rating of “Moderate Buy” and a consensus target price of $63.05.

EQT Price Performance

Shares of EQT stock opened at $57.17 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50-day simple moving average is $52.08 and its two-hundred day simple moving average is $53.44. The company has a market capitalization of $35.68 billion, a P/E ratio of 30.90, a P/E/G ratio of 0.46 and a beta of 0.50. EQT has a one year low of $35.44 and a one year high of $61.02.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period last year, the firm earned ($0.08) EPS. As a group, equities analysts anticipate that EQT will post 3.27 EPS for the current year.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the transaction, the executive vice president owned 13,297 shares of the company’s stock, valued at approximately $690,646.18. The trade was a 48.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC boosted its position in shares of EQT by 133.3% in the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 500 shares during the last quarter. Captrust Financial Advisors increased its position in shares of EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock worth $1,786,000 after acquiring an additional 8,658 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of EQT by 495.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after acquiring an additional 106,545 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of EQT by 20.1% in the second quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer’s stock worth $6,210,000 after acquiring an additional 17,839 shares in the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in EQT during the 2nd quarter worth $273,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.