EQT (NYSE:EQT) Price Target Raised to $54.00

EQT (NYSE:EQT) had its target price lifted by stock analysts at UBS Group from $49.00 to $54.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective points to a potential upside of 2.63% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price target on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Morgan Stanley raised their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. StockNews.com raised EQT to a “sell” rating in a research note on Saturday, February 8th. Finally, Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.89.

EQT Price Performance

Shares of EQT traded up $0.25 on Thursday, reaching $52.62. The stock had a trading volume of 418,155 shares, compared to its average volume of 7,847,744. EQT has a twelve month low of $30.02 and a twelve month high of $54.85. The firm has a market capitalization of $31.39 billion, a PE ratio of 62.31, a PEG ratio of 0.62 and a beta of 1.08. The firm has a 50-day moving average of $48.47 and a 200 day moving average of $40.81. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC lifted its position in EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after acquiring an additional 32,484 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after purchasing an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after purchasing an additional 16,416 shares in the last quarter. FMR LLC boosted its stake in shares of EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after purchasing an additional 28,129 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in EQT by 15.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after purchasing an additional 5,489 shares in 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.