EQT (NYSE:EQT) Stock Price Expected to Rise, TD Cowen Analyst Says

EQT (NYSE:EQT) had its target price raised by analysts at TD Cowen from $65.00 to $70.00 in a report released on Friday,MarketScreener reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. TD Cowen’s price objective points to a potential upside of 17.24% from the company’s current price.

A number of other analysts also recently issued reports on EQT. Jefferies Financial Group reaffirmed a “buy” rating on shares of EQT in a research note on Sunday, January 18th. Piper Sandler boosted their target price on shares of EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Scotiabank decreased their price objective on EQT from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. Zacks Research lowered EQT from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Finally, Wolfe Research lifted their target price on EQT from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Nineteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell 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 $65.09.

EQT Price Performance

NYSE EQT traded down $0.07 during trading hours on Friday, hitting $59.71. 735,575 shares of the company’s stock traded hands, compared to its average volume of 10,894,495. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.58. The firm’s 50-day moving average is $54.58 and its 200-day moving average is $54.49. EQT has a 52-week low of $43.57 and a 52-week high of $62.23. The company has a market capitalization of $37.26 billion, a PE ratio of 18.07, a PEG ratio of 0.47 and a beta of 0.74.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.17. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $0.69 earnings per share. The business’s revenue was up 24.8% compared to the same quarter last year. Equities analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Shore Management Inc CT boosted its position in shares of EQT by 31.8% during the 3rd quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock worth $83,105,000 after acquiring an additional 368,748 shares in the last quarter. Reaves W H & Co. Inc. boosted its holdings in EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after purchasing an additional 132,741 shares in the last quarter. Rhumbline Advisers grew its position in shares of EQT by 4.7% in the 3rd quarter. Rhumbline Advisers now owns 1,108,307 shares of the oil and gas producer’s stock valued at $60,325,000 after buying an additional 49,714 shares during the last quarter. SG Americas Securities LLC increased its position in shares of EQT by 1,286.2% during the second quarter. SG Americas Securities LLC now owns 735,936 shares of the oil and gas producer’s stock worth $42,920,000 after purchasing an additional 682,844 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in EQT by 2.3% during the 4th quarter. Whittier Trust Co. now owns 587,172 shares of the oil and gas producer’s stock worth $31,361,000 after buying an additional 13,232 shares during the last quarter. Hedge funds and other institutional investors 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.