EQT (NYSE:EQT) Price Target Raised to $60.00 at Royal Bank Of Canada

EQT (NYSE:EQT - Get Free Report) had its target price increased by stock analysts at Royal Bank Of Canada from $55.00 to $60.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the oil and gas producer's stock. Royal Bank Of Canada's price objective points to a potential upside of 8.44% from the stock's current price.

Several other research firms have also recently issued reports on EQT. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a research report on Tuesday, April 8th. Barclays assumed coverage on EQT in a research note on Monday. They set an "overweight" rating and a $65.00 price target for the company. Stephens dropped their price target on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley increased their price target on EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their price target on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, EQT currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.15.

EQT Price Performance

Shares of NYSE:EQT traded up $0.81 during trading on Tuesday, hitting $55.33. 5,152,372 shares of the company's stock were exchanged, compared to its average volume of 8,043,542. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. EQT has a 52-week low of $30.02 and a 52-week high of $61.02. The business's 50-day simple moving average is $56.14 and its 200 day simple moving average is $52.39. The company has a market cap of $33.13 billion, a price-to-earnings ratio of 97.07, a PEG ratio of 0.34 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. As a group, equities analysts predict that EQT will post 3.27 EPS for the current year.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its holdings in shares of EQT by 6.5% in the second quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer's stock worth $529,000 after buying an additional 554 shares during the period. Essex Savings Bank purchased a new stake in shares of EQT in the second quarter worth approximately $213,000. Drummond Knight Asset Management Pty Ltd raised its holdings in shares of EQT by 26.2% in the first quarter. Drummond Knight Asset Management Pty Ltd now owns 281,569 shares of the oil and gas producer's stock worth $15,044,000 after buying an additional 58,436 shares during the period. Hodges Capital Management Inc. purchased a new position in EQT during the 1st quarter worth $1,977,000. Finally, Strs Ohio purchased a new position in EQT during the 1st quarter worth $1,844,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.