EQT (NYSE:EQT) Price Target Raised to $35.00 at Piper Sandler

EQT (NYSE:EQT) had its price target lifted by Piper Sandler from $34.00 to $35.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

EQT has been the subject of several other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Jefferies Financial Group lifted their price objective on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. BMO Capital Markets lifted their price objective 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. StockNews.com raised shares of EQT to a “sell” rating in a research note on Monday, December 30th. Finally, Morgan Stanley boosted their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.94.

EQT Trading Up 1.6 %

Shares of EQT opened at $50.68 on Wednesday. The company’s fifty day moving average is $47.04 and its 200 day moving average is $39.55. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The stock has a market capitalization of $30.24 billion, a PE ratio of 60.34 and a beta of 1.12. 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 (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. Sell-side analysts expect that EQT will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred 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 transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EQT

Several hedge funds and other institutional investors have recently bought and sold shares 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 worth $2,327,000 after purchasing an additional 32,484 shares in the last quarter. Retirement Systems of Alabama boosted its position in EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares in the last quarter. FMR LLC boosted its position in EQT by 2.5% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in EQT by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock worth $1,914,000 after purchasing an additional 5,489 shares in the last quarter. Finally, Howard Financial Services LTD. purchased a new stake in EQT in the 4th quarter worth approximately $223,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.