Royal Bank Of Canada Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQTGet Free Report) had its price objective boosted by analysts at Royal Bank Of Canada from $64.00 to $69.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “sector perform” rating on the oil and gas producer’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 16.05% from the stock’s current price.

Several other research firms have also commented on EQT. Sanford C. Bernstein boosted their price target on EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. TD Cowen boosted their price target on EQT from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Wells Fargo & Company boosted their price target on EQT from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Truist Financial initiated coverage on EQT in a research report on Tuesday, March 24th. They set a “buy” rating and a $74.00 price target on the stock. Finally, UBS Group reduced their price target on EQT from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.67.

Check Out Our Latest Stock Report on EQT

EQT Stock Down 1.2%

Shares of NYSE:EQT opened at $59.46 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.76 and a current ratio of 0.76. EQT has a 1 year low of $46.84 and a 1 year high of $68.24. The stock has a market capitalization of $37.15 billion, a P/E ratio of 17.96, a PEG ratio of 1.13 and a beta of 0.70. The stock has a 50-day simple moving average of $60.82 and a 200-day simple moving average of $57.20.

EQT (NYSE:EQTGet Free Report) last issued its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.14. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts forecast that EQT will post 3.27 earnings per share for the current year.

Insider Activity at EQT

In related news, EVP Sarah Fenton sold 4,876 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $64.49, for a total transaction of $314,453.24. Following the sale, the executive vice president directly owned 52,953 shares of the company’s stock, valued at approximately $3,414,938.97. This represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lesley Evancho sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $60.69, for a total value of $1,213,800.00. Following the sale, the insider directly owned 184,607 shares in the company, valued at approximately $11,203,798.83. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,158 shares of company stock valued at $3,742,983. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently made changes to their positions in EQT. Reaves W H & Co. Inc. grew its stake in EQT by 213.3% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,029,234 shares of the oil and gas producer’s stock worth $56,021,000 after buying an additional 700,732 shares during the last quarter. Sound Shore Management Inc CT grew its stake in EQT by 31.8% during the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after buying an additional 368,748 shares during the last quarter. SG Americas Securities LLC grew its stake in EQT by 228.5% during the 4th quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock worth $27,746,000 after buying an additional 360,049 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in EQT by 116.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock worth $29,092,000 after buying an additional 287,538 shares during the last quarter. Finally, KTF Investments LLC bought a new position in EQT during the 4th quarter worth $8,885,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting EQT

Here are the key news stories impacting EQT this week:

About EQT

(Get Free Report)

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

See Also

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.