EQT (NYSE:EQT) Price Target Raised to $62.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised EQT's price target from $60.00 to $62.00, indicating a potential upside of 8.45% from the previous close.
• Fifteen research analysts have issued a Buy rating, while six rated it Hold and one rated it Sell, resulting in an average target price of $63.05.
• EQT's recent quarterly earnings missed expectations, reporting $0.45 EPS, below the consensus estimate of $0.52 EPS, and generated $1.60 billion in revenue.

EQT (NYSE:EQT - Get Free Report) had its price objective raised by stock analysts at Royal Bank Of Canada from $60.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the oil and gas producer's stock. Royal Bank Of Canada's price target points to a potential upside of 8.45% from the company's previous close.

A number of other research firms have also weighed in on EQT. JPMorgan Chase & Co. cut their target price on shares of EQT from $64.00 to $62.00 and set an "overweight" rating for the company in a research report on Tuesday, September 30th. UBS Group raised their price objective on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Melius assumed coverage on EQT in a report on Wednesday, August 20th. They set a "buy" rating and a $64.00 price objective on the stock. Morgan Stanley restated an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Finally, Scotiabank boosted their price objective on shares of EQT from $66.00 to $68.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 13th. Fifteen research 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. Based on data from MarketBeat, EQT has an average rating of "Moderate Buy" and an average target price of $63.05.

EQT Price Performance

Shares of EQT opened at $57.17 on Tuesday. 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. The firm has a market capitalization of $35.68 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 0.46 and a beta of 0.50. The stock's fifty day moving average is $52.08 and its 200-day moving average is $53.44.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data 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). EQT had a return on equity of 6.24% and a net margin of 15.87%.The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted ($0.08) EPS. Equities analysts anticipate that EQT will post 3.27 EPS for the current year.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 4,259 shares of the firm'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 transaction of $219,594.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, 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 position. 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 modified their holdings of the stock. Wedbush Securities Inc. bought a new stake in shares of EQT during the 1st quarter valued at $216,000. Allianz Asset Management GmbH lifted its stake in shares of EQT by 36.3% in the 1st quarter. Allianz Asset Management GmbH now owns 205,679 shares of the oil and gas producer's stock worth $10,989,000 after purchasing an additional 54,779 shares during the period. Kingsman Wealth Management Inc. bought a new stake in shares of EQT during the 1st quarter valued at $1,284,000. Axxcess Wealth Management LLC raised its stake in shares of EQT by 7.0% in the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer's stock worth $356,000 after buying an additional 434 shares during the period. Finally, Philadelphia Trust Co. raised its stake in shares of EQT by 665.8% in the first quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer's stock worth $2,905,000 after buying an additional 47,271 shares during the period. Institutional investors 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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