Truist Financial Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price target upped by Truist Financial from $41.00 to $56.00 in a research note published on Monday,Benzinga reports. They currently have a hold rating on the oil and gas producer’s stock.

EQT has been the topic of a number of other reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Monday, December 30th. Wells Fargo & Company boosted their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. BMO Capital Markets boosted their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, 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 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Trading Up 3.3 %

NYSE EQT opened at $52.38 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $31.25 billion, a PE ratio of 62.36 and a beta of 1.12. EQT has a one year low of $30.02 and a one year high of $53.00. The firm’s fifty day moving average is $45.09 and its two-hundred day moving average is $38.45.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that EQT will post 1.37 earnings per share for the current year.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new position in shares of EQT in the 3rd quarter worth about $25,000. Truvestments Capital LLC acquired a new stake in shares of EQT in the 3rd quarter worth about $30,000. Hexagon Capital Partners LLC increased its holdings in shares of EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the period. Quarry LP increased its holdings 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 acquiring an additional 578 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of EQT in the 3rd quarter worth about $36,000. 90.81% of the stock is currently owned by 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.