Stephens Boosts EQT (NYSE:EQT) Price Target to $47.00

EQT (NYSE:EQT - Get Free Report) had its target price upped by equities researchers at Stephens from $46.00 to $47.00 in a report released on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the oil and gas producer's stock. Stephens' target price would indicate a potential upside of 19.20% from the stock's current price.

Several other research firms also recently weighed in on EQT. Mizuho increased their price target on EQT from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Wells Fargo & Company downgraded EQT from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $48.00 to $37.00 in a research report on Wednesday, April 17th. Scotiabank raised EQT from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $40.00 to $52.00 in a report on Thursday, April 11th. Morgan Stanley increased their price target on shares of EQT from $37.00 to $49.00 and gave the stock an "overweight" rating in a report on Wednesday, April 17th. Finally, TD Cowen assumed coverage on shares of EQT in a research note on Friday, April 19th. They set a "hold" rating and a $43.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, EQT has an average rating of "Hold" and an average target price of $44.06.

EQT Trading Up 3.8 %

NYSE:EQT traded up $1.45 during trading hours on Wednesday, hitting $39.43. 11,733,430 shares of the company were exchanged, compared to its average volume of 6,553,591. The stock has a market capitalization of $17.37 billion, a price-to-earnings ratio of 9.18 and a beta of 1.12. The company has a fifty day simple moving average of $36.06 and a 200 day simple moving average of $37.99. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT has a one year low of $30.84 and a one year high of $45.23.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, beating the consensus estimate of $0.65 by $0.17. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. The firm's revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.70 EPS. Sell-side analysts expect that EQT will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently added to or reduced their stakes in the stock. Compound Global Advisors LLC raised its position in EQT by 130.2% in the fourth quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer's stock worth $15,833,000 after acquiring an additional 231,651 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in EQT by 212.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer's stock worth $6,740,000 after purchasing an additional 118,482 shares during the period. Wedge Capital Management L L P NC lifted its position in EQT by 14.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 511,988 shares of the oil and gas producer's stock valued at $19,793,000 after purchasing an additional 63,190 shares in the last quarter. Vanguard Group Inc. increased its position in EQT by 8.6% in the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer's stock worth $1,822,027,000 after buying an additional 3,539,661 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of EQT by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer's stock worth $731,979,000 after buying an additional 1,098,211 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.