EQT (NYSE:EQT) Price Target Raised to $56.00 at Truist Financial

EQT (NYSE:EQT) had its price objective hoisted by Truist Financial from $41.00 to $56.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price target indicates a potential upside of 14.36% from the stock’s current price.

A number of other equities research analysts have also recently commented on EQT. Jefferies Financial Group lifted 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. Sanford C. Bernstein initiated coverage on shares of EQT in a research note on Friday, December 6th. They issued a “market perform” rating and a $50.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. StockNews.com upgraded EQT to a “sell” rating in a report on Monday, December 30th. Finally, Wells Fargo & Company lifted their price objective on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.67.

EQT Price Performance

Shares of EQT traded down $0.03 during trading hours on Monday, hitting $48.97. The stock had a trading volume of 891,831 shares, compared to its average volume of 7,037,254. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $29.22 billion, a price-to-earnings ratio of 58.30 and a beta of 1.12. The company’s fifty day moving average is $44.56 and its two-hundred day moving average is $38.27. EQT has a 52 week low of $30.02 and a 52 week high of $50.03.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts anticipate that EQT will post 1.37 EPS for the current year.

Insider Transactions at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EQT

A number of large investors have recently modified their holdings of EQT. Sanctuary Advisors LLC raised its holdings in EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after buying an additional 32,484 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after acquiring an additional 35,733 shares during the last quarter. FMR LLC boosted its stake in EQT by 2.5% during the 3rd 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 last quarter. Tidal Investments LLC increased its holdings in EQT by 55.8% during the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after purchasing an additional 21,789 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. 90.81% of the stock is currently owned by 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.