EQT’s (EQT) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

EQT (NYSE:EQT)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They presently have a $49.00 price objective on the oil and gas producer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 9.64% from the company’s previous close.

EQT has been the topic of a number of other reports. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and upped their price objective for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Morgan Stanley boosted their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Mizuho lifted their target price on EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. UBS Group increased their price target on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Piper Sandler boosted their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, EQT presently has an average rating of “Hold” and a consensus target price of $44.83.

EQT Trading Up 0.4 %

Shares of EQT stock traded up $0.16 during trading on Tuesday, hitting $44.69. The company’s stock had a trading volume of 280,541 shares, compared to its average volume of 7,142,242. The stock has a market cap of $26.67 billion, a price-to-earnings ratio of 53.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 52 week low of $30.02 and a 52 week high of $48.02. The stock has a 50-day moving average price of $39.53 and a two-hundred day moving average price of $37.18.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Equities research analysts anticipate that EQT will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On EQT

A number of hedge funds have recently modified their holdings of the stock. HM Payson & Co. purchased a new stake in EQT in the third quarter worth $25,000. Innealta Capital LLC bought a new stake in EQT in the 2nd quarter valued at about $28,000. Truvestments Capital LLC purchased a new stake in EQT during the third quarter valued at about $30,000. Hexagon Capital Partners LLC boosted its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the period. Finally, Quarry LP increased its stake in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

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.