Piper Sandler Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price target hoisted by analysts at Piper Sandler from $49.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s target price would suggest a potential downside of 14.49% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. reduced their price target on EQT from $64.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, September 30th. Bank of America upped their price objective on EQT from $63.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 22nd. BMO Capital Markets upped their price objective on EQT from $60.00 to $65.00 in a report on Tuesday, November 11th. Finally, Roth Capital lowered EQT from a “strong-buy” rating to a “neutral” rating and lowered their target price for the stock from $75.00 to $57.00 in a report on Monday, August 18th. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.78.

EQT Stock Down 1.0%

Shares of EQT stock traded down $0.57 on Tuesday, hitting $58.47. 2,769,620 shares of the company’s stock traded hands, compared to its average volume of 8,174,257. The stock has a market cap of $36.49 billion, a P/E ratio of 20.06, a PEG ratio of 0.44 and a beta of 0.55. The firm’s 50-day moving average is $54.35 and its 200 day moving average is $54.54. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a 52-week low of $42.27 and a 52-week high of $61.26.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. Equities analysts anticipate that EQT will post 3.27 earnings per share for the current year.

Insiders Place Their Bets

In other EQT news, EVP J.E.B. Bolen sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were 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 in the company, valued at approximately $3,668,165.94. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

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