EQT (NYSE:EQT) Stock Price Expected to Rise, Scotiabank Analyst Says

EQT (NYSE:EQT) had its price objective hoisted by equities researchers at Scotiabank from $62.00 to $66.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s target price points to a potential upside of 19.28% from the company’s current price.

A number of other brokerages also recently issued reports on EQT. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Morgan Stanley boosted their price target on EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Roth Capital began coverage on EQT in a research report on Tuesday, June 24th. They set a “buy” rating and a $69.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.15.

EQT Stock Performance

Shares of EQT stock opened at $55.33 on Friday. The business’s 50 day moving average price is $56.14 and its 200 day moving average price is $52.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $33.13 billion, a price-to-earnings ratio of 97.07, a PEG ratio of 0.35 and a beta of 0.65. EQT has a one year low of $30.02 and a one year high of $61.02.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. On average, research analysts predict that EQT will post 3.27 EPS for the current year.

Institutional Trading of EQT

Several hedge funds and other institutional investors have recently bought and sold shares of EQT. Farther Finance Advisors LLC boosted its position in shares of EQT by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer’s stock worth $529,000 after buying an additional 554 shares during the period. Essex Savings Bank acquired a new stake in EQT in the second quarter worth approximately $213,000. Drummond Knight Asset Management Pty Ltd lifted its position in EQT by 26.2% in the first quarter. Drummond Knight Asset Management Pty Ltd now owns 281,569 shares of the oil and gas producer’s stock worth $15,044,000 after purchasing an additional 58,436 shares during the period. Hodges Capital Management Inc. bought a new position in shares of EQT in the first quarter valued at $1,977,000. Finally, Strs Ohio bought a new position in shares of EQT in the first quarter valued at $1,844,000. 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.