EQT (EQT) Upgraded by Royal Bank of Canada to “Outperform”

EQT (NYSE:EQT) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Monday, MarketBeat.com reports. The firm currently has a $77.00 price target on the oil and gas producer’s stock, up from their prior price target of $45.73. Royal Bank of Canada’s price objective would indicate a potential upside of 61.19% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other brokerages have also weighed in on EQT. BMO Capital Markets restated a “buy” rating and issued a $75.00 target price on shares of EQT in a research note on Tuesday, November 14th. Cowen set a $80.00 target price on EQT and gave the company a “buy” rating in a research note on Wednesday, October 18th. Morgan Stanley raised their target price on EQT from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. SunTrust Banks restated a “hold” rating and issued a $67.00 target price on shares of EQT in a research note on Friday, October 27th. Finally, ValuEngine lowered EQT from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. EQT currently has a consensus rating of “Buy” and a consensus price target of $76.77.

Shares of EQT (NYSE:EQT) traded up $2.04 during trading hours on Monday, hitting $47.77. The stock had a trading volume of 4,466,704 shares, compared to its average volume of 3,784,959. EQT has a 52 week low of $43.70 and a 52 week high of $67.84. The firm has a market capitalization of $12,560.00, a price-to-earnings ratio of 238.85, a PEG ratio of 1.82 and a beta of 0.70. 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, Director Thomas F. Karam acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $59.26 per share, for a total transaction of $592,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,185,200. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman David L. Porges sold 53,760 shares of EQT stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $59.14, for a total value of $3,179,366.40. Following the completion of the sale, the chairman now owns 438,601 shares of the company’s stock, valued at $25,938,863.14. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Calton & Associates Inc. acquired a new position in shares of EQT during the 4th quarter worth about $104,000. NuWave Investment Management LLC acquired a new position in shares of EQT during the 4th quarter worth about $126,000. Zeke Capital Advisors LLC acquired a new position in shares of EQT during the 3rd quarter worth about $212,000. FNY Partners Fund LP acquired a new position in shares of EQT during the 4th quarter worth about $220,000. Finally, Virtu Financial LLC acquired a new position in shares of EQT during the 4th quarter worth about $220,000.

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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.

Analyst Recommendations for EQT (NYSE:EQT)

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