EQT (NYSE:EQT) Hits New 12-Month High – Here’s Why

EQT Co. (NYSE:EQT)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $54.59 and last traded at $54.05, with a volume of 1032347 shares. The stock had previously closed at $53.43.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday, January 15th. BMO Capital Markets increased their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Citigroup raised their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.89.

EQT Stock Up 2.0 %

The business’s fifty day moving average price is $46.20 and its 200 day moving average price is $39.03. The firm has a market capitalization of $32.51 billion, a price-to-earnings ratio of 64.89 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS 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 for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that EQT Co. will post 1.42 EPS for the current year.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Institutional Trading of EQT

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after buying an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC acquired a new position in EQT in the third quarter worth $562,494,000. State Street Corp boosted its holdings in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC boosted its holdings in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares during the period. Finally, Holocene Advisors LP acquired a new position in EQT in the third quarter worth $97,979,000. 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.