EQT (NYSE:EQT) Given New $70.00 Price Target at Scotiabank

Key Points

• Scotiabank has raised its price target for EQT from $68.00 to $70.00, predicting a potential upside of 26.16% from the current price.
• The stock experienced a 1.6% decline, closing at $55.49, amidst mixed ratings from analysts with a consensus rating of "Moderate Buy."
• In recent insider activity, Director Vicky A. Bailey sold 4,259 shares at an average price of $51.56, while EVP Sarah Fenton sold 12,438 shares at $51.94, reflecting a significant change in their ownership stakes.

EQT (NYSE:EQT - Get Free Report) had its price objective raised by equities researchers at Scotiabank from $68.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "sector perform" rating on the oil and gas producer's stock. Scotiabank's price target would indicate a potential upside of 26.16% from the company's current price.

EQT has been the subject of several other research reports. Wells Fargo & Company increased their price target on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Jefferies Financial Group cut their price target on EQT from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Melius started coverage on EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 price target for the company. Royal Bank Of Canada increased their price target on EQT from $60.00 to $62.00 and gave the stock a "sector perform" rating in a research note on Tuesday. Finally, BMO Capital Markets dropped their price objective on EQT from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, September 22nd. Fifteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.10.

EQT Stock Down 1.6%

Shares of NYSE EQT traded down $0.92 during midday trading on Thursday, hitting $55.49. 1,146,095 shares of the stock traded hands, compared to its average volume of 8,348,709. The company has a market cap of $34.63 billion, a PE ratio of 29.99, a P/E/G ratio of 0.48 and a beta of 0.50. The business has a 50 day moving average price of $52.22 and a two-hundred day moving average price of $53.48. EQT has a one year low of $35.44 and a one year high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations 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 previous year, the company posted ($0.08) earnings per share. On average, equities analysts predict that EQT will post 3.27 EPS for the current year.

Insider Activity

In related news, 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 transaction of $219,594.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On EQT

A number of large investors have recently made changes to their positions in EQT. Park Avenue Securities LLC boosted its position in shares of EQT by 18.3% during the first quarter. Park Avenue Securities LLC now owns 9,343 shares of the oil and gas producer's stock valued at $499,000 after purchasing an additional 1,443 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of EQT by 91.6% during the first quarter. Farther Finance Advisors LLC now owns 8,522 shares of the oil and gas producer's stock valued at $459,000 after purchasing an additional 4,075 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of EQT during the first quarter valued at approximately $555,000. GAMMA Investing LLC boosted its position in shares of EQT by 42.3% during the first quarter. GAMMA Investing LLC now owns 11,950 shares of the oil and gas producer's stock valued at $638,000 after purchasing an additional 3,550 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of EQT by 656.5% during the first quarter. SG Americas Securities LLC now owns 53,092 shares of the oil and gas producer's stock valued at $2,837,000 after purchasing an additional 46,074 shares in the last quarter. 90.81% of the stock is currently owned by 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.

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