EQT Corporation (NYSE:EQT) Receives Average Rating of “Moderate Buy” from Brokerages

EQT Corporation (NYSE:EQT) has earned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $64.2609.

A number of research firms have issued reports on EQT. Scotiabank cut their target price on shares of EQT from $70.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, November 21st. BMO Capital Markets cut their price objective on EQT from $65.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Citigroup reduced their price objective on EQT from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Wells Fargo & Company dropped their target price on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Finally, Piper Sandler lifted their price target on EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th.

Insider Transactions at EQT

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the sale, the executive vice president directly owned 69,486 shares of the company’s stock, valued at $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently modified their holdings of the business. First American Bank acquired a new stake in shares of EQT in the third quarter worth about $1,915,000. Whittier Trust Co. raised its stake in shares of EQT by 2.6% in the 2nd quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock valued at $17,662,000 after acquiring an additional 7,647 shares in the last quarter. Sound Shore Management Inc CT acquired a new stake in EQT in the 2nd quarter worth approximately $67,539,000. Adams Natural Resources Fund Inc. boosted its position in EQT by 97.1% during the third quarter. Adams Natural Resources Fund Inc. now owns 220,500 shares of the oil and gas producer’s stock worth $12,002,000 after purchasing an additional 108,600 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in EQT during the second quarter worth approximately $110,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 1.2%

Shares of EQT stock opened at $50.54 on Friday. EQT has a 1 year low of $43.57 and a 1 year high of $62.23. The company has a market cap of $31.54 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.30 and a beta of 0.68. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $56.00 and a 200 day moving average price of $54.32.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm’s quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, analysts expect that EQT will post 3.27 EPS for the current fiscal year.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.