Barclays Initiates Coverage on EQT (NYSE:EQT)

Investment analysts at Barclays initiated coverage on shares of EQT (NYSE:EQT) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $65.00 price target on the oil and gas producer’s stock. Barclays‘s price objective would indicate a potential upside of 17.42% from the company’s current price.

EQT has been the topic of a number of other research reports. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, April 8th. Citigroup lifted their price objective on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Morgan Stanley lifted their price target on EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their target price on EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.35.

EQT Stock Down 1.4%

NYSE EQT opened at $55.36 on Monday. The business has a fifty day moving average price of $55.71 and a 200 day moving average price of $52.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $33.15 billion, a P/E ratio of 97.12, a P/E/G ratio of 0.34 and a beta of 0.65. EQT has a one year low of $30.02 and a one year high of $61.02.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Research analysts anticipate that EQT will post 3.27 EPS for the current fiscal year.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas acquired a new stake in shares of EQT during the 4th quarter valued at approximately $244,000. Aviva PLC acquired a new position in EQT during the fourth quarter worth $14,719,000. Flagship Harbor Advisors LLC purchased a new stake in EQT during the first quarter worth $226,000. Exchange Traded Concepts LLC grew its holdings in EQT by 101.8% in the first quarter. Exchange Traded Concepts LLC now owns 9,039 shares of the oil and gas producer’s stock valued at $483,000 after purchasing an additional 4,559 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in EQT by 15.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,288,322 shares of the oil and gas producer’s stock valued at $68,835,000 after purchasing an additional 172,249 shares during the last quarter. 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.