UBS Group Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price target raised by equities research analysts at UBS Group from $54.00 to $58.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price indicates a potential upside of 19.87% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of EQT to a “sell” rating in a report on Saturday, February 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a report on Monday, January 6th. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $55.00 to $54.00 in a report on Friday, January 17th. Truist Financial increased their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company boosted their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.39.

EQT Price Performance

Shares of NYSE:EQT traded down $1.70 on Tuesday, hitting $48.39. The company’s stock had a trading volume of 1,975,602 shares, compared to its average volume of 8,334,531. The company has a 50-day simple moving average of $49.77 and a 200 day simple moving average of $42.01. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The company has a market capitalization of $28.91 billion, a PE ratio of 120.97, a PEG ratio of 0.64 and a beta of 1.08. EQT has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Sell-side analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EQT

Hedge funds have recently modified their holdings of the stock. HM Payson & Co. purchased a new stake in EQT in the 3rd quarter worth $25,000. Truvestments Capital LLC purchased a new position in shares of EQT during the 3rd quarter worth about $30,000. Quarry LP grew its holdings in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in EQT in the 3rd quarter worth about $36,000. Finally, Financial Avengers Inc. lifted its stake in EQT by 100.8% in the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares during the last quarter. 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.