Piper Sandler Raises EQT (NYSE:EQT) Price Target to $50.00

EQT (NYSE:EQT) had its target price increased by analysts at Piper Sandler from $49.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price target suggests a potential downside of 14.49% from the company’s previous close.

EQT has been the subject of a number of other reports. Wall Street Zen raised EQT from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group boosted their price target on EQT from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Wolfe Research upped their price objective on shares of EQT from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Bank of America raised their price target on EQT from $63.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Finally, Mizuho decreased their price objective on shares of EQT from $66.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.78.

EQT Stock Down 1.0%

Shares of NYSE EQT traded down $0.57 during mid-day trading on Tuesday, hitting $58.47. The company had a trading volume of 2,769,620 shares, compared to its average volume of 8,174,257. The business’s 50-day simple moving average is $54.35 and its 200 day simple moving average is $54.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. EQT has a 1-year low of $42.27 and a 1-year high of $61.26. The company has a market capitalization of $36.49 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55.

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, topping 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the company posted $0.12 earnings per share. The business’s revenue for the quarter was up 52.6% on a year-over-year basis. On average, analysts predict that EQT will post 3.27 earnings per share for the current year.

Insider Activity at EQT

In other news, EVP J.E.B. Bolen sold 1,422 shares of the company’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the completion of the transaction, the executive vice president owned 69,486 shares of the company’s stock, valued at $3,668,165.94. This represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently made changes to their positions in EQT. Zions Bancorporation National Association UT acquired a new stake in shares of EQT during the 1st quarter worth $35,000. Harbour Investments Inc. increased its stake in EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 226 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in EQT during the second quarter worth about $41,000. Anchor Investment Management LLC raised its holdings in shares of EQT by 133.3% in the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 500 shares during the period. Finally, Private Trust Co. NA grew its holdings in shares of EQT by 38.1% during the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

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.