EQT (NYSE:EQT) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank lowered shares of EQT (NYSE:EQT) from a sector outperform rating to a sector perform rating in a report released on Friday morning, MarketBeat Ratings reports. Scotiabank currently has $54.00 target price on the oil and gas producer’s stock, down from their previous target price of $55.00.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. Jefferies Financial Group upped their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. StockNews.com raised EQT to a “sell” rating in a research report on Monday, December 30th. Finally, Morgan Stanley boosted their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.89.

EQT Stock Performance

NYSE EQT opened at $52.93 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $45.83 and a 200 day simple moving average of $38.77. EQT has a 12-month low of $30.02 and a 12-month high of $53.98. The company has a market cap of $31.58 billion, a P/E ratio of 63.02 and a beta of 1.12.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping 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 quarter in the prior year, the business posted $0.30 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that EQT will post 1.44 earnings per share for the current fiscal year.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 201,608 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Several institutional investors and hedge funds have recently made changes to their positions in the business. HM Payson & Co. bought a new position in shares of EQT during the third quarter valued at about $25,000. Truvestments Capital LLC bought a new position in EQT during the 3rd quarter worth approximately $30,000. Hexagon Capital Partners LLC increased its stake in 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 purchasing an additional 904 shares during the period. Quarry LP lifted its position in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of EQT during the third quarter valued at approximately $36,000. Institutional investors own 90.81% of the company’s stock.

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.