EQT (NYSE:EQT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

EQT (NYSE:EQT) had its price objective lifted by Wells Fargo & Company from $52.00 to $53.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 8.23% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Citigroup raised their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $57.00 in a research report on Monday, December 16th. UBS Group raised their price objective on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Finally, BMO Capital Markets boosted their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One 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 company’s stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $47.83.

EQT Stock Up 1.7 %

Shares of NYSE:EQT traded up $0.82 during trading on Wednesday, hitting $48.97. The company’s stock had a trading volume of 7,800,954 shares, compared to its average volume of 7,568,986. The company has a market capitalization of $29.22 billion, a PE ratio of 58.30 and a beta of 1.12. The business has a 50 day moving average price of $43.84 and a two-hundred day moving average price of $38.04. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $49.20. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business 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 company earned $0.30 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts expect that EQT will post 1.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On EQT

Institutional investors have recently made changes to their positions in the stock. HM Payson & Co. purchased a new position in EQT in the 3rd quarter valued at about $25,000. Truvestments Capital LLC purchased a new position in shares of EQT during the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC boosted its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the last quarter. Quarry LP grew its stake in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in EQT in the 3rd quarter valued at $36,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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.