Piper Sandler Reiterates “Overweight” Rating for EQT (NYSE:EQT)

EQT (NYSE:EQT)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a note issued to investors on Tuesday, Benzinga reports. They presently have a $46.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $41.00. Piper Sandler’s price target would indicate a potential upside of 19.08% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group decreased their target price on EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Truist Financial decreased their target price on EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. StockNews.com raised EQT to a “sell” rating in a research report on Tuesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of EQT in a research report on Tuesday, March 5th. Finally, Scotiabank upgraded shares of EQT from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $40.00 to $52.00 in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.56.

EQT Trading Down 3.6 %

EQT stock opened at $38.63 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 27.99 and a beta of 1.12. EQT has a one year low of $30.84 and a one year high of $45.23. The company’s fifty day moving average price is $36.71 and its two-hundred day moving average price is $37.87.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 earnings per share. On average, analysts forecast that EQT will post 1.01 earnings per share for the current fiscal year.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Wealth Management Group LLC acquired a new stake in shares of EQT in the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new stake in shares of EQT in the fourth quarter valued at approximately $40,000. Principal Securities Inc. acquired a new stake in shares of EQT in the fourth quarter valued at approximately $51,000. Allworth Financial LP increased its holdings in shares of 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 purchasing an additional 282 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new stake in shares of EQT in the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.