EQT Co. (NYSE:EQT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of EQT Co. (NYSE:EQT) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $47.83.

A number of research firms recently issued reports on EQT. UBS Group raised their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price target on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Truist Financial boosted their price objective on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler raised their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Citigroup upped their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares in the last quarter. Retirement Systems of Alabama raised 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 buying an additional 35,733 shares during the last quarter. FMR LLC lifted 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 buying an additional 28,129 shares in the last quarter. Tidal Investments LLC grew its holdings in EQT by 55.8% during the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after acquiring an additional 21,789 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

Shares of NYSE EQT opened at $48.99 on Wednesday. The business’s 50-day simple moving average is $44.56 and its 200-day simple moving average is $38.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a 52 week low of $30.02 and a 52 week high of $50.03. The firm has a market cap of $29.23 billion, a price-to-earnings ratio of 58.32 and a beta of 1.12.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

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.