EQT (NYSE:EQT) Downgraded to Sell Rating by Wall Street Zen

Key Points

• EQT has been **downgraded** from a "hold" rating to a "sell" rating by Wall Street Zen, amidst varied ratings from other research firms.
• The company's latest quarterly earnings reported a **net margin of 22.59%**, with a revenue increase of **52.6%** year-over-year, despite slightly missing analysts' expectations.
• Institutional investors and hedge funds hold a significant **90.81%** of EQT's stock, indicating strong investor confidence despite the recent downgrade.

EQT (NYSE:EQT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research firms have also recently weighed in on EQT. William Blair started coverage on shares of EQT in a report on Tuesday, October 14th. They issued an "outperform" rating on the stock. BMO Capital Markets dropped their price objective on shares of EQT from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, September 22nd. Wells Fargo & Company dropped their price objective on shares of EQT from $68.00 to $66.00 and set an "overweight" rating on the stock in a report on Thursday. Morgan Stanley reissued an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Finally, Roth Capital cut shares of EQT from a "strong-buy" rating to a "neutral" rating and lowered their target price for the company from $75.00 to $57.00 in a research note on Monday, August 18th. Eighteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, EQT presently has an average rating of "Moderate Buy" and an average price target of $63.52.

EQT Stock Up 0.2%

EQT stock opened at $53.68 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT has a fifty-two week low of $35.44 and a fifty-two week high of $61.02. The firm's 50-day simple moving average is $52.77 and its 200 day simple moving average is $53.69. The stock has a market cap of $33.50 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.46 and a beta of 0.50.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share for the quarter, topping 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 business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter last year, the company earned $0.12 EPS. The company's revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, sell-side analysts predict that EQT will post 3.27 EPS for the current year.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,259 shares of EQT stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares during the period. Northern Trust Corp lifted its stake in EQT by 2.0% in the first quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock valued at $304,176,000 after acquiring an additional 113,716 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in EQT by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock valued at $278,055,000 after acquiring an additional 110,249 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in EQT by 10.3% in the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer's stock valued at $277,397,000 after acquiring an additional 484,671 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in EQT by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock valued at $251,017,000 after acquiring an additional 311,154 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.