Wells Fargo & Company Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price lifted by stock analysts at Wells Fargo & Company from $53.00 to $58.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.49% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Truist Financial boosted their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup boosted their target price on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. UBS Group boosted their target price on shares of EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Finally, Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $59.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

EQT Trading Up 0.8 %

NYSE EQT traded up $0.42 on Wednesday, hitting $52.98. 1,111,714 shares of the stock were exchanged, compared to its average volume of 8,367,525. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The stock has a fifty day moving average price of $50.98 and a two-hundred day moving average price of $43.85. The firm has a market capitalization of $31.65 billion, a P/E ratio of 132.30, a P/E/G ratio of 0.64 and a beta of 1.12. EQT has a 52-week low of $30.02 and a 52-week high of $56.66.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Research analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of EQT by 38.7% in the 3rd 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 acquiring an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares during the last quarter. State Street Corp increased its position in shares of EQT by 24.5% during the 3rd 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 last quarter. Geode Capital Management LLC increased its position in shares of EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Finally, Capital International Investors increased its position in shares of EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. 90.81% of the stock is 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.