Scotiabank Has Lowered Expectations for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target dropped by analysts at Scotiabank from $70.00 to $67.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price objective points to a potential upside of 17.42% from the company’s previous close.

A number of other equities analysts have also recently weighed in on EQT. Roth Capital cut shares of EQT from a “strong-buy” rating to a “neutral” rating and reduced their price target for the stock from $75.00 to $57.00 in a research report on Monday, August 18th. William Blair initiated coverage on EQT in a research note on Tuesday, October 14th. They set an “outperform” rating on the stock. Royal Bank Of Canada lifted their target price on EQT from $60.00 to $62.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 7th. BMO Capital Markets increased their price target on EQT from $60.00 to $65.00 in a report on Tuesday, November 11th. Finally, Siebert Williams Shank dropped their price target on EQT from $62.00 to $59.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $63.65.

EQT Price Performance

Shares of EQT stock opened at $57.06 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. The firm has a market cap of $35.61 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 0.44 and a beta of 0.55. The stock has a 50-day moving average price of $54.91 and a 200 day moving average price of $54.67. EQT has a 12 month low of $42.27 and a 12 month high of $61.26.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. EQT had a net margin of 22.59% and a return on equity of 6.88%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 52.6% on a year-over-year basis. Research analysts expect that EQT will post 3.27 EPS for the current year.

Insider Buying and Selling

In other news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the completion of the transaction, the executive vice president directly owned 69,486 shares in the company, valued at $3,668,165.94. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new position in EQT during the third quarter valued at approximately $114,000. Adalta Capital Management LLC raised its stake in shares of EQT by 71.2% during the 3rd quarter. Adalta Capital Management LLC now owns 11,300 shares of the oil and gas producer’s stock worth $615,000 after purchasing an additional 4,700 shares in the last quarter. Horizon Investments LLC boosted its holdings in shares of EQT by 43.6% in the 3rd quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after buying an additional 25,971 shares during the last quarter. BOKF NA boosted its holdings in shares of EQT by 8.6% in the 3rd quarter. BOKF NA now owns 109,941 shares of the oil and gas producer’s stock valued at $5,984,000 after buying an additional 8,663 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. bought a new position in shares of EQT in the third quarter valued at $522,000. Institutional investors and hedge funds 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.