Wells Fargo & Company Downgrades EQT (NYSE:EQT) to Equal Weight

EQT (NYSE:EQT) was downgraded by stock analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $37.00 target price on the oil and gas producer’s stock, down from their prior target price of $48.00. Wells Fargo & Company‘s price target indicates a potential upside of 2.17% from the stock’s current price.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group reduced their price target on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Tuesday, March 12th. Mizuho boosted their price target on shares of EQT from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group boosted their price target on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.80.

EQT Stock Up 0.5 %

EQT stock opened at $36.22 on Wednesday. EQT has a 1-year low of $30.84 and a 1-year high of $45.23. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 8.52 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $35.88 and a 200 day simple moving average of $38.08.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. EQT’s revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. On average, analysts predict that EQT will post 1.4 earnings per share for the current year.

Institutional Trading of EQT

Several hedge funds have recently added to or reduced their stakes in EQT. Raymond James Financial Services Advisors Inc. lifted its stake in EQT by 12.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock worth $1,079,000 after purchasing an additional 3,541 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of EQT during the first quarter valued at about $96,000. Great West Life Assurance Co. Can raised its stake in shares of EQT by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock valued at $5,891,000 after acquiring an additional 12,466 shares during the last quarter. Raymond James Trust N.A. bought a new position in shares of EQT during the first quarter valued at about $539,000. Finally, Blair William & Co. IL bought a new position in shares of EQT during the first quarter valued at about $329,000. 90.81% of the stock is owned by institutional investors.

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.