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

EQT (NYSE:EQT) had its price objective hoisted by Scotiabank from $66.00 to $68.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s target price would indicate a potential upside of 28.76% from the stock’s current price.

EQT has been the topic of several other research reports. Morgan Stanley reissued an “overweight” rating on shares of EQT in a research note on Tuesday, July 15th. Piper Sandler lifted their price target on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Barclays lifted their price objective on EQT from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. UBS Group reaffirmed a “buy” rating on shares of EQT in a research report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price target on EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $60.95.

EQT Trading Up 1.5%

Shares of NYSE:EQT opened at $52.81 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $32.96 billion, a PE ratio of 28.55, a PEG ratio of 0.37 and a beta of 0.59. The business has a 50 day moving average of $55.28 and a two-hundred day moving average of $53.15. EQT has a 12-month low of $31.42 and a 12-month high of $61.02.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the prior year, the company posted ($0.08) earnings per share. As a group, analysts forecast that EQT will post 3.27 EPS for the current year.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares of the company’s stock, valued at $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in EQT during the first quarter valued at about $35,000. Harbour Investments Inc. lifted its stake in EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 226 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of EQT in the second quarter valued at approximately $41,000. University of Texas Texas AM Investment Management Co. increased its holdings in shares of EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares in the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of EQT in the fourth quarter valued at approximately $55,000. 90.81% of the stock is currently owned by hedge funds and other 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.