EQT (NYSE:EQT) has been given a $77.00 target price by investment analysts at Royal Bank of Canada in a research report issued on Wednesday. The firm presently has a “hold” rating on the oil and gas producer’s stock. Royal Bank of Canada’s price objective points to a potential upside of 42.01% from the stock’s current price.
Several other equities research analysts have also issued reports on EQT. Scotiabank reissued an “average” rating and issued a $79.00 price target on shares of EQT in a report on Wednesday, October 4th. BMO Capital Markets reissued a “buy” rating and issued a $75.00 price target on shares of EQT in a report on Tuesday, November 14th. Seaport Global Securities raised shares of EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $79.00 in a report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price target on shares of EQT in a report on Thursday, September 14th. Finally, Cowen reissued a “buy” rating and issued a $80.00 price target on shares of EQT in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. EQT presently has an average rating of “Buy” and an average target price of $76.75.
EQT (NYSE:EQT) opened at $54.22 on Wednesday. EQT has a 52-week low of $49.63 and a 52-week high of $68.16. The stock has a market cap of $9,459.94, a price-to-earnings ratio of 62.55, a P/E/G ratio of 4.28 and a beta of 0.76. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.60 and a current ratio of 0.60.
In other news, Chairman David L. Porges sold 53,760 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $59.14, for a total value of $3,179,366.40. Following the sale, the chairman now owns 438,601 shares of the company’s stock, valued at approximately $25,938,863.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director A. Bray Jr. Cary purchased 406 shares of EQT stock in a transaction that occurred on Monday, October 2nd. The shares were bought at an average price of $65.24 per share, for a total transaction of $26,487.44. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. lifted its position in EQT by 14.2% during the 2nd quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock worth $339,000 after buying an additional 721 shares in the last quarter. BB&T Corp lifted its position in EQT by 5.6% during the 3rd quarter. BB&T Corp now owns 31,297 shares of the oil and gas producer’s stock worth $2,042,000 after buying an additional 1,673 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in EQT during the 3rd quarter worth about $212,000. Aureus Asset Management LLC acquired a new position in EQT during the 2nd quarter worth about $205,000. Finally, Pinebridge Investments L.P. acquired a new position in EQT during the 2nd quarter worth about $212,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
About EQT
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
