Stephens Increases EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT) had its target price upped by Stephens from $46.00 to $47.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Stephens’ price objective would indicate a potential upside of 18.51% from the company’s previous close.

EQT has been the subject of several other reports. Truist Financial reduced their target price on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Piper Sandler dropped their price target on shares of EQT from $47.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and raised their price target for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group raised their price target on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, EQT has an average rating of “Hold” and a consensus target price of $44.06.

EQT Trading Up 4.4 %

EQT stock traded up $1.68 during trading hours on Wednesday, reaching $39.66. 5,010,095 shares of the company’s stock were exchanged, compared to its average volume of 6,464,955. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $36.06 and its 200 day simple moving average is $37.99. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The firm has a market capitalization of $17.47 billion, a PE ratio of 9.18 and a beta of 1.12.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. The firm’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same period last year, the business posted $1.70 EPS. Research analysts predict that EQT will post 0.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in shares of EQT by 922.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 175,028 shares of the oil and gas producer’s stock valued at $6,488,000 after purchasing an additional 157,912 shares in the last quarter. Muhlenkamp & Co. Inc. lifted its stake in EQT by 0.6% in the first quarter. Muhlenkamp & Co. Inc. now owns 450,628 shares of the oil and gas producer’s stock worth $16,705,000 after purchasing an additional 2,876 shares during the last quarter. Amalgamated Bank lifted its stake in EQT by 5.0% in the first quarter. Amalgamated Bank now owns 125,215 shares of the oil and gas producer’s stock worth $4,642,000 after purchasing an additional 6,007 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in EQT by 10.1% in the first quarter. New Mexico Educational Retirement Board now owns 20,700 shares of the oil and gas producer’s stock worth $767,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of EQT by 16.7% during the first quarter. Fifth Third Bancorp now owns 9,293 shares of the oil and gas producer’s stock valued at $344,000 after acquiring an additional 1,329 shares during the last quarter. 90.81% of the stock is currently 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.