EQT's (EQT) Sector Perform Rating Reaffirmed at Scotiabank

Key Points

• Scotiabank raised EQT's price target from $66.00 to $68.00, indicating a potential upside of 30.92% at the current stock price with a "sector perform" rating.
• The company reported earnings of $0.45 per share, missing analyst expectations of $0.52, and had revenue of $1.60 billion for the quarter.
• Institutional investors and hedge funds hold 90.81% of EQT's stock, highlighting strong institutional interest in the company.

EQT (NYSE:EQT - Get Free Report)'s stock had its "sector perform" rating reissued by equities research analysts at Scotiabank in a research note issued on Wednesday, Marketbeat reports. They currently have a $68.00 price objective on the oil and gas producer's stock, up from their previous price objective of $66.00. Scotiabank's price target would suggest a potential upside of 28.61% from the company's current price.

A number of other equities analysts also recently commented on EQT. UBS Group restated a "buy" rating on shares of EQT in a research note on Monday, July 14th. Stephens lowered their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company raised their target price on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 target price for the company in a research note on Tuesday, July 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $60.95.

EQT Trading Up 1.6%

EQT stock traded up $0.82 during midday trading on Wednesday, reaching $52.87. The stock had a trading volume of 2,529,041 shares, compared to its average volume of 8,335,425. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT has a 52-week low of $31.42 and a 52-week high of $61.02. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. The company has a fifty day moving average of $55.35 and a 200 day moving average of $53.12.

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

Insider Buying and Selling at EQT

In related news, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. 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 bought and sold shares of EQT. Zions Bancorporation National Association UT acquired a new position in EQT in the 1st quarter valued at about $35,000. Harbour Investments Inc. lifted its holdings in shares of EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 226 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of EQT in the 2nd quarter worth approximately $41,000. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after acquiring an additional 310 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of EQT in the 4th quarter worth approximately $55,000. 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.