EQT (NYSE:EQT) Price Target Raised to $63.00

Key Points

• Citigroup has raised its price target for EQT from $60.00 to $63.00, suggesting a potential upside of 25.39% based on the stock's current price.
• A total of 15 research analysts have rated EQT as a Buy, indicating strong confidence in the company's performance, while the average price target among them is approximately $62.95.
• EQT's most recent quarterly earnings report showed an EPS of $0.45, which was below the consensus estimate of $0.52, accompanied by a revenue of $1.60 billion, also missing estimates.

EQT (NYSE:EQT - Get Free Report) had its price objective boosted by investment analysts at Citigroup from $60.00 to $63.00 in a research note issued on Tuesday,MarketScreener reports. The firm currently has a "buy" rating on the oil and gas producer's stock. Citigroup's price target would indicate a potential upside of 25.39% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley reiterated an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Bank of America increased their target price on shares of EQT from $63.00 to $80.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Roth Capital cut EQT from a "strong-buy" rating to a "neutral" rating and dropped their target price for the company from $75.00 to $57.00 in a report on Monday, August 18th. Finally, Melius Research started coverage on shares of EQT in a report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price target on the stock. Fifteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, EQT presently has a consensus rating of "Moderate Buy" and an average price target of $62.95.

EQT Stock Performance

Shares of EQT opened at $50.25 on Tuesday. The firm's fifty day simple moving average is $52.23 and its two-hundred day simple moving average is $53.18. EQT has a 12 month low of $34.89 and a 12 month high of $61.02. 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 $31.36 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 0.40 and a beta of 0.58.

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

Insider Transactions at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the company'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 filing with the SEC, which is available at the SEC website. 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 value 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. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On EQT

Hedge funds have recently made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new position in shares of EQT in the 1st quarter worth approximately $35,000. Harbour Investments Inc. raised its holdings in shares of EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 226 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of EQT during the 2nd quarter worth about $41,000. Anchor Investment Management LLC boosted its holdings in shares of EQT by 133.3% during the 2nd quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer's stock worth $51,000 after buying an additional 500 shares during the period. Finally, Mascagni Wealth Management Inc. bought a new stake in EQT during the fourth quarter valued at about $55,000. Hedge funds and other 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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