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

EQT (NYSE:EQT) had its price target boosted by investment analysts at Piper Sandler from $34.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price target would indicate a potential downside of 32.23% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America started coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. Wells Fargo & Company boosted their price objective on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.94.

EQT Stock Performance

Shares of EQT stock opened at $51.65 on Wednesday. The company has a market capitalization of $30.82 billion, a price-to-earnings ratio of 61.48 and a beta of 1.12. 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 has a 52 week low of $30.02 and a 52 week high of $54.85. The company has a 50-day simple moving average of $47.12 and a 200 day simple moving average of $39.63.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts predict that EQT will post 1.42 earnings per share for the current year.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EQT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of EQT in the third quarter valued at approximately $562,494,000. State Street Corp raised its holdings in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC boosted its position in EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after acquiring an additional 3,454,741 shares during the last quarter. Institutional investors 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.