Stephens Boosts EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT) had its price target hoisted by stock analysts at Stephens from $46.00 to $47.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Stephens’ target price suggests a potential upside of 16.31% from the company’s previous close.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price target (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of EQT in a research note on Tuesday, March 5th. Morgan Stanley increased their target price on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group reduced their target price on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Finally, Mizuho increased their target price on EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.06.

EQT Stock Performance

NYSE:EQT opened at $40.41 on Wednesday. The stock’s fifty day moving average is $36.31 and its 200 day moving average is $38.01. EQT has a fifty-two week low of $30.84 and a fifty-two week high of $45.23. The firm has a market capitalization of $17.80 billion, a PE ratio of 29.28 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.70% and a net margin of 10.96%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm posted $1.70 EPS. EQT’s quarterly revenue was down 28.8% compared to the same quarter last year. On average, sell-side analysts anticipate that EQT will post 0.99 earnings per share for the current year.

Institutional Investors Weigh In On EQT

A number of large investors have recently modified their holdings of EQT. Private Wealth Management Group LLC purchased a new stake in shares of EQT during the fourth quarter worth about $30,000. BKM Wealth Management LLC acquired a new stake in shares of EQT during the fourth quarter worth about $40,000. Principal Securities Inc. acquired a new position in EQT in the fourth quarter valued at approximately $51,000. Allworth Financial LP lifted its holdings in EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock valued at $54,000 after acquiring an additional 282 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in EQT in the third quarter valued at approximately $54,000. Hedge funds and other 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.