EQT (NYSE:EQT) Stock Rating Upgraded by Freedom Capital

Key Points

• Freedom Capital upgraded EQT to a “strong-buy” rating, adding to a mostly positive analyst backdrop. The stock now carries a consensus rating of “Moderate Buy” with a consensus price target of $67.96.
• EQT shares were down 1.4% and opened at $52.41, leaving the stock well below its 52-week high of $68.24. The company trades at a relatively low P/E ratio of 9.94.
• Recent results were solid, with EQT reporting quarterly EPS of $2.33, beating expectations of $2.01. The company also said revenue matched estimates at $3.14 billion, while analysts expect full-year EPS of about 4.5.

EQT (NYSE:EQT - Get Free Report) was upgraded by investment analysts at Freedom Capital to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Wolfe Research raised their price target on EQT from $64.00 to $69.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Roth Mkm reaffirmed a "neutral" rating on shares of EQT in a report on Tuesday, April 14th. BMO Capital Markets cut their price objective on EQT from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Stephens reduced their target price on EQT from $78.00 to $73.00 and set an "overweight" rating for the company in a report on Tuesday, April 21st. Finally, Capital One Financial boosted their target price on shares of EQT from $64.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $67.96.

EQT Trading Down 1.4%

Shares of EQT stock opened at $52.41 on Tuesday. The firm has a market cap of $32.78 billion, a price-to-earnings ratio of 9.94 and a beta of 0.55. EQT has a 52-week low of $48.47 and a 52-week high of $68.24. The company's 50-day simple moving average is $55.14 and its 200-day simple moving average is $56.88. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the firm earned $1.18 earnings per share. As a group, equities research analysts anticipate that EQT will post 4.5 earnings per share for the current year.

Insider Buying and Selling at EQT

In other EQT news, Director Vicky A. Bailey sold 4,116 shares of the company's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Toby Z. Rice sold 96,983 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $54.28, for a total value of $5,264,237.24. Following the completion of the transaction, the chief executive officer owned 2,334,924 shares of the company's stock, valued at approximately $126,739,674.72. This represents a 3.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 102,830 shares of company stock valued at $5,602,913. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in EQT by 1.0% in the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer's stock valued at $1,022,000 after acquiring an additional 198 shares during the last quarter. Root Financial Partners LLC raised its position in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of EQT by 0.5% in the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer's stock valued at $2,497,000 after purchasing an additional 215 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of EQT by 4.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer's stock valued at $392,000 after purchasing an additional 236 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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