EQT (NYSE:EQT) Earns “Sector Perform” Rating from Royal Bank of Canada

EQT (NYSE:EQT)‘s stock had its “sector perform” rating reiterated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $49.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 9.64% from the company’s current price.

A number of other research firms also recently weighed in on EQT. Truist Financial raised their price target on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. BMO Capital Markets increased their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. Finally, Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.83.

EQT Stock Up 0.4 %

NYSE EQT traded up $0.16 during trading on Tuesday, hitting $44.69. The stock had a trading volume of 280,541 shares, compared to its average volume of 7,142,242. The company has a market capitalization of $26.67 billion, a PE ratio of 53.01 and a beta of 1.14. EQT has a 12 month low of $30.02 and a 12 month high of $48.02. The company’s 50-day moving average price is $39.53 and its two-hundred day moving average price is $37.18. 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 earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that EQT will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of EQT in the first quarter worth about $209,000. Cetera Investment Advisers bought a new stake in shares of EQT during the first quarter worth $2,274,000. Cetera Advisors LLC increased its holdings in shares of EQT by 9.9% during the first quarter. Cetera Advisors LLC now owns 14,586 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 1,318 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of EQT by 6.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 23,943 shares of the oil and gas producer’s stock valued at $856,000 after acquiring an additional 1,379 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in EQT by 50.2% during the 2nd quarter. GAMMA Investing LLC now owns 5,332 shares of the oil and gas producer’s stock worth $197,000 after acquiring an additional 1,783 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.