EQT (NYSE:EQT) Sets New 52-Week High Following Analyst Upgrade

by · The Cerbat Gem

EQT Co. (NYSE:EQT – Get Free Report)’s share price hit a new 52-week high during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $52.00 to $53.00. Wells Fargo & Company currently has an overweight rating on the stock. EQT traded as high as $49.20 and last traded at $48.97, with a volume of 7886481 shares trading hands. The stock had previously closed at $48.15.

Several other analysts have also commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Citigroup raised their price objective on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial upped their price target on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $48.00 to $57.00 in a report on Monday, December 16th. Finally, Morgan Stanley increased their target price on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

View Our Latest Report on EQT

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by insiders.

Hedge Funds Weigh In On EQT

Hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC boosted its position in EQT by 104.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after buying an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after acquiring an additional 35,733 shares during the period. FMR LLC grew its position in EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after purchasing an additional 28,129 shares during the last quarter. Tidal Investments LLC increased its position in EQT by 55.8% in the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after acquiring an additional 21,789 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Price Performance

The company has a market cap of $29.23 billion, a price-to-earnings ratio of 58.32 and a beta of 1.14. The company’s 50 day moving average price is $44.56 and its 200 day moving average price is $38.26. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT – Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that EQT Co. will post 1.37 earnings per share for the current year.

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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