EQT (NYSE:EQT) Stock Rating Lowered by Zacks Research

EQT (NYSE:EQT) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company raised their price target on EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Citigroup dropped their target price on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial cut their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reduced their price target on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, June 23rd. Finally, Stephens upped their price target on shares of EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average price target of $68.08.

EQT Stock Performance

Shares of NYSE:EQT opened at $52.58 on Tuesday. The firm has a market cap of $32.89 billion, a PE ratio of 12.20 and a beta of 0.55. The firm’s 50 day simple moving average is $52.48 and its 200-day simple moving average is $56.48. EQT has a one year low of $47.94 and a one year high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities analysts predict that EQT will post 4.08 EPS for the current year.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the transaction, the chief executive officer owned 2,333,193 shares in the company, valued at $124,732,497.78. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by insiders.

Institutional Trading of EQT

Several hedge funds have recently modified their holdings of the company. KTF Investments LLC purchased a new position in shares of EQT in the 4th quarter worth approximately $8,885,000. Reaves W H & Co. Inc. lifted its position in EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after acquiring an additional 132,741 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in EQT by 495.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock valued at $7,468,000 after acquiring an additional 106,545 shares during the last quarter. Whittier Trust Co. boosted its stake in EQT by 9.6% in the first quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer’s stock valued at $38,857,000 after acquiring an additional 56,149 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in EQT by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after acquiring an additional 48,587 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting EQT

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Citigroup maintains a Buy rating. Citi lowered its price target from $70 to $67 but still implies substantial upside from current levels, signaling continued confidence in EQT’s valuation and natural-gas outlook. Citi Keeps Their Buy Rating on EQT
• Positive Sentiment: Long-term gas demand is becoming a central investment thesis. EQT is positioning its production and infrastructure to benefit from data-center electricity demand, power contracts, pipeline expansion and global LNG growth. This could improve demand visibility over time, although near-term execution remains important. How EQT Is Positioning for Data Center, Power & Global LNG Demand
• Positive Sentiment: Energy-sector rotation is providing a relative boost. Some investors are shifting capital away from technology stocks after an AI-related selloff and toward energy companies, with EQT identified as a favored natural-gas name. Stocks Standing Out as the Tech Rally Cracks
• Neutral Sentiment: Several headlines concern EQT AB, not EQT Corporation. EQT AB is selling Quantios and is pursuing a bid for Australia’s Perpetual. These private-equity transactions do not directly affect NYSE-listed EQT Corporation’s operating results or valuation and may create headline confusion. EQT to Sell Quantios Perpetual Rejects EQT Takeover Offer
• Negative Sentiment: Fundamentals remain a constraint. EQT recently missed quarterly EPS and revenue expectations, while revenue declined year over year. The lower Citi target also reflects more measured near-term expectations despite the retained Buy rating.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.