Barclays Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT - Get Free Report) had its price target upped by stock analysts at Barclays from $65.00 to $68.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. Barclays's price target would indicate a potential upside of 24.84% from the stock's previous close.

A number of other brokerages have also commented on EQT. Scotiabank reiterated a "sector perform" rating and set a $66.00 price target (up previously from $62.00) on shares of EQT in a report on Friday, July 11th. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price on the stock in a report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Wells Fargo & Company boosted their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Roth Capital assumed coverage on EQT in a research note on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.79.

EQT Stock Performance

NYSE:EQT opened at $54.47 on Wednesday. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. The stock has a fifty day moving average price of $56.63 and a 200-day moving average price of $52.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 95.56, a PEG ratio of 0.34 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a return on equity of 5.52% and a net margin of 6.59%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company earned ($0.08) earnings per share. As a group, equities analysts anticipate that EQT will post 3.27 EPS for the current fiscal year.

Institutional Investors Weigh In On EQT

Several large investors have recently added to or reduced their stakes in EQT. AdvisorNet Financial Inc grew its position in EQT by 479.5% during the second quarter. AdvisorNet Financial Inc now owns 2,179 shares of the oil and gas producer's stock worth $127,000 after buying an additional 1,803 shares in the last quarter. GAMMA Investing LLC grew its stake in EQT by 6.1% in the 2nd quarter. GAMMA Investing LLC now owns 12,675 shares of the oil and gas producer's stock worth $739,000 after buying an additional 725 shares in the last quarter. Farther Finance Advisors LLC grew its stake in EQT by 6.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer's stock worth $529,000 after buying an additional 554 shares in the last quarter. Essex Savings Bank purchased a new position in EQT in the 2nd quarter worth approximately $213,000. Finally, Drummond Knight Asset Management Pty Ltd grew its stake in EQT by 26.2% in the 1st quarter. Drummond Knight Asset Management Pty Ltd now owns 281,569 shares of the oil and gas producer's stock worth $15,044,000 after buying an additional 58,436 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

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.

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