EQT (NYSE:EQT) Price Target Raised to $67.00 at UBS Group

Key Points

• UBS Group has raised the price target for EQT from $65.00 to $67.00, indicating a potential upside of 24.73% from the stock's previous close while maintaining a "buy" rating.
• A total of seventeen research analysts have rated EQT with a Buy rating, indicating strong overall confidence in the stock, which has an average price target of $63.59.
• Shares of EQT traded at $53.72, experiencing a modest increase, and possess a market capitalization of $33.52 billion, reflecting solid performance in the oil and gas sector.

EQT (NYSE:EQT - Get Free Report) had its price objective increased by analysts at UBS Group from $65.00 to $67.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas producer's stock. UBS Group's price target would suggest a potential upside of 24.73% from the stock's previous close.

A number of other research analysts have also issued reports on EQT. Royal Bank Of Canada lifted their target price on EQT from $60.00 to $62.00 and gave the company a "sector perform" rating in a report on Tuesday, October 7th. Citigroup boosted their target price on EQT from $60.00 to $63.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Piper Sandler boosted their price target on EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Melius Research initiated coverage on EQT in a research report on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price on the stock. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of EQT in a research note on Tuesday. Seventeen 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 MarketBeat.com, EQT has an average rating of "Moderate Buy" and an average price target of $63.59.

EQT Price Performance

Shares of EQT stock traded up $0.48 during mid-day trading on Friday, reaching $53.72. 507,552 shares of the stock traded hands, compared to its average volume of 8,264,204. EQT has a fifty-two week low of $35.44 and a fifty-two week high of $61.02. The stock has a market capitalization of $33.52 billion, a PE ratio of 28.97, a PEG ratio of 0.48 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 business has a 50-day moving average of $52.44 and a 200 day moving average of $53.51.

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

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in EQT in the first quarter valued at approximately $120,252,000. Vanguard Group Inc. boosted its holdings in shares of EQT by 2.1% in the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after buying an additional 1,509,054 shares during the period. Sound Shore Management Inc CT acquired a new position in shares of EQT in the second quarter valued at approximately $67,539,000. Ninepoint Partners LP boosted its holdings in shares of EQT by 200.0% in the first quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer's stock valued at $80,145,000 after buying an additional 1,000,000 shares during the period. Finally, Situational Awareness LP acquired a new position in shares of EQT in the first quarter valued at approximately $52,864,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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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