EQT (NYSE:EQT) Price Target Raised to $40.00 at BMO Capital Markets

EQT (NYSE:EQT) had its price objective raised by analysts at BMO Capital Markets from $39.00 to $40.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. BMO Capital Markets’ price target points to a potential upside of 8.28% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Truist Financial dropped their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. StockNews.com raised EQT to a “sell” rating in a research report on Friday, July 26th. Scotiabank lifted their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $44.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.18.

EQT Stock Performance

Shares of EQT opened at $36.94 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $16.31 billion, a PE ratio of 26.77 and a beta of 1.06. EQT has a 12 month low of $30.02 and a 12 month high of $45.23. The stock has a fifty day moving average price of $33.46 and a 200-day moving average price of $36.53.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts predict that EQT will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EQT

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of EQT during the 2nd quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its position in EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares during the period. Blue Trust Inc. lifted its holdings in EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares in the last quarter. Quent Capital LLC grew its position in shares of EQT by 174.1% in the third quarter. Quent Capital LLC now owns 1,239 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 787 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of EQT by 414.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock worth $51,000 after purchasing an additional 1,186 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.