EQT (NYSE:EQT) Stock Price Down 4.9% After Analyst Downgrade

EQT Co. (NYSE:EQTGet Rating) shares were down 4.9% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $50.00 to $42.00. Morgan Stanley currently has an overweight rating on the stock. EQT traded as low as $33.32 and last traded at $33.51. Approximately 1,382,069 shares traded hands during trading, a decline of 79% from the average daily volume of 6,513,231 shares. The stock had previously closed at $35.24.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of EQT in a research note on Wednesday, October 19th. They set a “buy” rating and a $57.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of EQT from $55.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, December 29th. TD Securities cut their target price on shares of EQT from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Credit Suisse Group cut their target price on shares of EQT to $60.00 in a research note on Tuesday, November 1st. Finally, StockNews.com initiated coverage on shares of EQT in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.53.

Insiders Place Their Bets

In other EQT news, EVP William E. Jordan sold 98,783 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $41.55, for a total transaction of $4,104,433.65. Following the completion of the transaction, the executive vice president now directly owns 297,787 shares of the company’s stock, valued at approximately $12,373,049.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stonegate Investment Group LLC boosted its holdings in shares of EQT by 6.3% in the 4th quarter. Stonegate Investment Group LLC now owns 11,853 shares of the oil and gas producer’s stock valued at $401,000 after buying an additional 698 shares during the period. Xponance Inc. boosted its holdings in shares of EQT by 24.7% in the 4th quarter. Xponance Inc. now owns 47,917 shares of the oil and gas producer’s stock valued at $1,621,000 after buying an additional 9,499 shares during the period. Resonant Capital Advisors LLC boosted its holdings in shares of EQT by 3.5% in the 4th quarter. Resonant Capital Advisors LLC now owns 30,054 shares of the oil and gas producer’s stock valued at $1,017,000 after buying an additional 1,026 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of EQT in the 4th quarter valued at about $33,000. Finally, Veriti Management LLC acquired a new position in shares of EQT in the 4th quarter valued at about $201,000. 97.60% of the stock is owned by institutional investors and hedge funds.

EQT Price Performance

The company’s fifty day moving average price is $36.96 and its 200 day moving average price is $41.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 0.07 and a beta of 1.21.

EQT (NYSE:EQTGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.74 billion. Equities research analysts expect that EQT Co. will post 3.86 earnings per share for the current year.

About EQT

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EQT Corp. is a natural gas production company engaged in the supplying, transmitting, and distribution of natural gas. It has operations in the Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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