EQT (NYSE:EQT) Stock Rating Upgraded by Citigroup

by · The Cerbat Gem

EQT (NYSE:EQT – Get Free Report) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday, Marketbeat.com reports. The brokerage presently has a $44.00 price target on the oil and gas producer’s stock, up from their previous price target of $37.00. Citigroup’s price target would indicate a potential upside of 19.11% from the company’s previous close.

EQT has been the subject of several other reports. Scotiabank raised their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Wolfe Research began coverage on EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price for the company. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.18.

View Our Latest Stock Report on EQT

EQT Price Performance

EQT opened at $36.94 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $16.31 billion, a PE ratio of 26.77 and a beta of 1.06. The stock’s 50 day moving average price is $33.46 and its 200-day moving average price is $36.51. EQT has a 52-week low of $30.02 and a 52-week high of $45.23.

EQT (NYSE:EQT – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts predict that EQT will post 1.37 EPS for the current year.

Hedge Funds Weigh In On EQT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Innealta Capital LLC purchased a new position in shares of EQT in the second quarter worth $28,000. Wolff Wiese Magana LLC increased its holdings in EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 908 shares in the last quarter. Blue Trust Inc. raised its position in EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 598 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in EQT by 414.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock valued at $51,000 after acquiring an additional 1,186 shares during the period. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in shares of EQT by 65.5% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 570 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

About EQT

(Get Free Report)

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.

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