Piper Sandler Trims EQT (NYSE:EQT) Target Price to $41.00

EQT (NYSE:EQT) had its price objective lowered by Piper Sandler from $47.00 to $41.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective indicates a potential upside of 12.33% from the stock’s previous close.

Several other research firms have also issued reports on EQT. TD Cowen assumed coverage on shares of EQT in a report on Friday. They issued a “hold” rating and a $43.00 target price on the stock. Mizuho upped their target price on EQT from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Scotiabank raised EQT from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $40.00 to $52.00 in a research note on Thursday, April 11th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.38.

EQT Trading Up 0.8 %

Shares of EQT traded up $0.28 during mid-day trading on Friday, reaching $36.50. 2,327,330 shares of the company were exchanged, compared to its average volume of 6,383,016. The business has a 50 day simple moving average of $35.88 and a two-hundred day simple moving average of $38.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $16.08 billion, a PE ratio of 8.59 and a beta of 1.12. EQT has a 52 week low of $30.84 and a 52 week high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $0.42 EPS. The company’s revenue was up 17.6% compared to the same quarter last year. On average, analysts predict that EQT will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Wealth Management Group LLC purchased a new stake in EQT in the 4th quarter valued at about $30,000. Laurel Wealth Advisors LLC bought a new position in shares of EQT in the second quarter valued at approximately $33,000. BKM Wealth Management LLC bought a new position in shares of EQT in the fourth quarter valued at approximately $40,000. Belpointe Asset Management LLC increased its position in shares of EQT by 270.0% during the first quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 918 shares during the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in EQT during the second quarter worth $40,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.