EQT (NYSE:EQT – Get Free Report) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $54.00 price target on the oil and gas producer’s stock, down from their prior price target of $55.00. Scotiabank’s price objective would indicate a potential upside of 2.01% from the company’s previous close.
A number of other research firms have also recently commented on EQT. Piper Sandler upped their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Morgan Stanley increased their price objective on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Jefferies Financial Group increased their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Stephens increased their price objective on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.89.
Read Our Latest Research Report on EQT
EQT Trading Down 1.6 %
EQT (NYSE:EQT – Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. On average, equities analysts forecast that EQT will post 1.44 EPS for the current year.
Insider Activity
In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.63% of the company’s stock.
Institutional Trading of EQT
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC purchased a new position in EQT in the 3rd quarter worth $562,494,000. State Street Corp raised its stake in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC raised its stake in EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in EQT in the 3rd quarter worth $97,979,000. Hedge funds and other institutional investors 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.
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