EQT (NYSE:EQT) Earns Buy Rating from Analysts at Melius

Key Points

• Analysts at Melius have given EQT a "buy" rating with a price target of $64.00, suggesting a potential upside of 26.72% from its current price.
• The stock currently possesses a consensus rating of "Moderate Buy" from 14 analysts, with an average target price of $60.50.
• EQT reported earnings of $0.45 per share for the last quarter, missing estimates, as well as a revenue of $1.60 billion compared to analysts' expectations of $1.78 billion.

Analysts at Melius initiated coverage on shares of EQT (NYSE:EQT - Get Free Report) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $64.00 price target on the oil and gas producer's stock. Melius' price target would indicate a potential upside of 26.72% from the stock's current price.

EQT has been the subject of a number of other reports. Barclays upped their price objective on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. UBS Group reiterated a "buy" rating on shares of EQT in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada increased their price target on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Fourteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.50.

EQT Price Performance

Shares of EQT stock opened at $50.5040 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $31.52 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 0.35 and a beta of 0.59. EQT has a twelve month low of $31.45 and a twelve month high of $61.02. The stock has a fifty day simple moving average of $55.13 and a two-hundred day simple moving average of $53.14.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same quarter last year, the company earned ($0.08) earnings per share. On average, analysts predict that EQT will post 3.27 EPS for the current fiscal year.

Insider Activity

In other news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC raised its position in EQT by 133.3% during the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer's stock valued at $51,000 after acquiring an additional 500 shares in the last quarter. Captrust Financial Advisors raised its position in EQT by 39.4% during the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer's stock valued at $1,786,000 after acquiring an additional 8,658 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in EQT by 495.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer's stock valued at $7,468,000 after acquiring an additional 106,545 shares in the last quarter. Baird Financial Group Inc. raised its position in EQT by 20.1% during the second quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer's stock valued at $6,210,000 after acquiring an additional 17,839 shares in the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of EQT in the second quarter valued at approximately $273,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

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