EQT (NYSE:EQT) had its price target dropped by stock analysts at Morgan Stanley from $63.00 to $59.00 in a research report issued on Wednesday. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price would indicate a potential upside of 0.44% from the company’s current price.
Several other equities research analysts have also recently weighed in on the company. Citigroup restated a “buy” rating and set a $79.00 target price on shares of EQT in a research note on Monday, January 22nd. Zacks Investment Research cut EQT from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. ValuEngine cut EQT from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. BMO Capital Markets restated a “buy” rating and set a $75.00 target price on shares of EQT in a research note on Tuesday, December 26th. Finally, Royal Bank of Canada set a $77.00 target price on EQT and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.54.
Shares of EQT (EQT) traded up $0.26 on Wednesday, hitting $58.74. The stock had a trading volume of 2,903,383 shares, compared to its average volume of 3,340,000. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29. The stock has a market cap of $15,610.00, a PE ratio of 293.70, a PEG ratio of 2.50 and a beta of 0.76. EQT has a fifty-two week low of $49.63 and a fifty-two week high of $67.84.
EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.17. The business had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $667.05 million. EQT had a return on equity of 1.61% and a net margin of 1.39%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) EPS. research analysts forecast that EQT will post 0.86 EPS for the current fiscal year.
In other EQT news, Chairman David L. Porges sold 53,760 shares of EQT stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the transaction, the chairman now owns 438,601 shares of the company’s stock, valued at $25,938,863.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas F. Karam purchased 10,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $59.26 per share, for a total transaction of $592,600.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,185,200. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Tennessee Treasury Department increased its holdings in shares of EQT by 22.5% in the third quarter. State of Tennessee Treasury Department now owns 821,326 shares of the oil and gas producer’s stock valued at $53,584,000 after purchasing an additional 150,856 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of EQT by 2.1% in the second quarter. Lord Abbett & CO. LLC now owns 697,211 shares of the oil and gas producer’s stock valued at $40,850,000 after purchasing an additional 14,019 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of EQT by 8.9% in the second quarter. UBS Asset Management Americas Inc. now owns 474,265 shares of the oil and gas producer’s stock valued at $27,787,000 after purchasing an additional 38,836 shares during the period. Reinhart Partners Inc. increased its holdings in shares of EQT by 44.1% in the fourth quarter. Reinhart Partners Inc. now owns 403,964 shares of the oil and gas producer’s stock valued at $22,994,000 after purchasing an additional 123,712 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of EQT by 1.8% in the third quarter. Rhumbline Advisers now owns 335,485 shares of the oil and gas producer’s stock valued at $21,887,000 after purchasing an additional 5,939 shares during the period.
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EQT Company Profile
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.