EQT (NYSE:EQT) Upgraded to Outperform at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of EQT (NYSE:EQT) from a market perform rating to an outperform rating in a report issued on Wednesday morning, Marketbeat Ratings reports. Sanford C. Bernstein currently has $73.00 target price on the oil and gas producer’s stock.

A number of other equities research analysts also recently issued reports on EQT. 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 research note on Monday, December 16th. Bank of America started coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Citigroup lifted their price target on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price objective on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, BMO Capital Markets raised their target price on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.94.

EQT Stock Up 3.3 %

Shares of EQT stock opened at $52.38 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a twelve month low of $30.02 and a twelve month high of $53.00. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 62.36 and a beta of 1.12. The company’s 50 day moving average is $45.09 and its 200 day moving average is $38.45.

EQT (NYSE:EQT) last released its quarterly 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. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Research analysts anticipate that EQT will post 1.44 EPS for the current year.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently made changes to their positions in the company. Radnor Capital Management LLC increased its stake in EQT by 0.4% in the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock worth $2,810,000 after acquiring an additional 237 shares during the last quarter. Davis Investment Partners LLC increased its position in EQT by 1.0% in the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after purchasing an additional 317 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in EQT by 7.4% during the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 421 shares in the last quarter. Financial Avengers Inc. lifted its position in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares during the last quarter. Finally, Quarry LP grew its stake in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.