BMO Capital Markets Raises EQT (NYSE:EQT) Price Target to $65.00

EQT (NYSE:EQT) had its price objective hoisted by investment analysts at BMO Capital Markets from $60.00 to $65.00 in a research note issued to investors on Tuesday,MarketScreener reports. BMO Capital Markets’ target price points to a potential upside of 10.97% from the company’s previous close.

A number of other brokerages have also commented on EQT. Roth Capital lowered EQT from a “strong-buy” rating to a “neutral” rating and cut their target price for the company from $75.00 to $57.00 in a research note on Monday, August 18th. Citigroup increased their price target on shares of EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Mizuho dropped their target price on shares of EQT from $66.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Royal Bank Of Canada lifted their price target on shares of EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. Finally, William Blair started coverage on shares of EQT in a research note on Tuesday, October 14th. They issued an “outperform” rating for the company. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.74.

EQT Stock Performance

EQT stock traded down $1.68 during mid-day trading on Tuesday, reaching $58.57. The company’s stock had a trading volume of 726,945 shares, compared to its average volume of 8,151,607. The business has a 50 day moving average price of $54.02 and a 200-day moving average price of $54.36. EQT has a twelve month low of $42.27 and a twelve month high of $61.26. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 0.44 and a beta of 0.55. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29.

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

Insider Transactions at EQT

In other news, EVP J.E.B. Bolen sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president directly owned 69,486 shares of the company’s stock, valued at $3,668,165.94. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Nuveen LLC purchased a new stake in shares of EQT during the first quarter valued at approximately $120,252,000. Vanguard Group Inc. boosted its holdings in shares of EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares during the last quarter. Sound Shore Management Inc CT bought a new stake in shares of EQT in the second quarter worth approximately $67,539,000. Ninepoint Partners LP raised its holdings in shares of EQT by 200.0% during the first quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer’s stock valued at $80,145,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Situational Awareness LP bought a new position in EQT during the first quarter valued at approximately $52,864,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.