BMO Capital Markets Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective upped by analysts at BMO Capital Markets from $60.00 to $65.00 in a report released on Tuesday,MarketScreener reports. BMO Capital Markets’ price objective would indicate a potential upside of 10.97% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Barclays reduced their target price on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. UBS Group increased their price objective on EQT from $65.00 to $67.00 and gave the company a “buy” rating in a report on Friday, October 17th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research note on Saturday, October 25th. Jefferies Financial Group decreased their price target on EQT from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Siebert Williams Shank lowered their price target on EQT from $62.00 to $59.00 and set a “hold” rating for the company in a report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.74.

EQT Price Performance

Shares of NYSE:EQT traded down $1.68 during trading on Tuesday, hitting $58.57. 726,945 shares of the company’s stock were exchanged, compared to its average volume of 8,151,607. The company has a market cap of $36.55 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 0.44 and a beta of 0.55. The business’s 50-day simple moving average is $54.02 and its 200 day simple moving average is $54.36. 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 52-week low of $42.27 and a 52-week high of $61.26.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. The business’s revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 earnings per share. As a group, equities analysts predict that EQT will post 3.27 EPS for the current year.

Insider Activity

In other news, EVP J.E.B. Bolen sold 1,422 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the transaction, the executive vice president owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after buying an additional 1,509,054 shares during the period. Northern Trust Corp lifted its stake in shares of EQT by 2.0% in the 1st quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer’s stock worth $304,176,000 after acquiring an additional 113,716 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of EQT by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer’s stock worth $278,055,000 after purchasing an additional 110,249 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of EQT by 10.3% during the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer’s stock valued at $277,397,000 after acquiring an additional 484,671 shares during the period. Finally, Amundi grew its stake in EQT by 0.8% during the 1st quarter. Amundi now owns 2,700,814 shares of the oil and gas producer’s stock valued at $140,685,000 after acquiring an additional 21,395 shares in the last quarter. 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.