EQT (NYSE:EQT) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• EQT's stock received a "Hold (C)" rating from Weiss Ratings, while other firms such as Citigroup and Scotiabank upgraded their target prices and ratings for the company.
• The company reported a $0.45 earnings per share for the last quarter, falling short of analyst expectations, with revenues of $1.60 billion against an estimated $1.78 billion.
• EQT's stock price has recently dropped 2.8%, currently trading around $52.15, with a market capitalization of $32.54 billion.

EQT (NYSE:EQT - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Several other research firms also recently weighed in on EQT. Citigroup lifted their target price on EQT from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Scotiabank lifted their target price on EQT from $68.00 to $70.00 and gave the company a "sector perform" rating in a research report on Thursday, October 9th. Piper Sandler lifted their price objective on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Wolfe Research lifted their price objective on EQT from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company lifted 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. Sixteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, EQT has an average rating of "Moderate Buy" and a consensus target price of $63.50.

EQT Trading Down 2.8%

NYSE EQT traded down $1.51 during trading on Tuesday, hitting $52.15. The stock had a trading volume of 1,620,636 shares, compared to its average volume of 8,300,498. The company has a market capitalization of $32.54 billion, a PE ratio of 28.25, a PEG ratio of 0.44 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average price of $52.29 and a 200 day moving average price of $53.50. EQT has a twelve month low of $35.44 and a twelve month high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released its earnings results 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). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the prior year, the firm earned ($0.08) earnings per share. As a group, equities research analysts forecast that EQT will post 3.27 earnings per share for the current year.

Insider Activity at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares in the company, valued at $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction that occurred on 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. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in 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 worth $3,955,922,000 after buying an additional 1,509,054 shares during the period. Northern Trust Corp increased its position in EQT by 2.0% during the first quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock worth $304,176,000 after buying an additional 113,716 shares during the period. Charles Schwab Investment Management Inc. increased its position in EQT by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock worth $278,055,000 after buying an additional 110,249 shares during the period. Neuberger Berman Group LLC increased its position in EQT by 10.3% during the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer's stock worth $277,397,000 after buying an additional 484,671 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in EQT by 7.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock worth $251,017,000 after buying an additional 311,154 shares during the period. 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.

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