EQT (NYSE:EQT) Given New $52.00 Price Target at Wells Fargo & Company

EQT (NYSE:EQT) had its price target boosted by analysts at Wells Fargo & Company from $42.00 to $52.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target points to a potential upside of 14.09% from the company’s current price.

A number of other research firms have also recently weighed in on EQT. Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Morgan Stanley raised their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho raised their target price on shares of EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Stephens raised their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Stock Down 0.9 %

Shares of NYSE:EQT opened at $45.58 on Monday. The firm’s 50 day moving average price is $38.70 and its 200 day moving average price is $37.05. The stock has a market cap of $27.20 billion, a price-to-earnings ratio of 54.26 and a beta of 1.06. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that EQT will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EQT. Advisors Asset Management Inc. raised its stake in EQT by 14.1% in the 1st quarter. Advisors Asset Management Inc. now owns 36,165 shares of the oil and gas producer’s stock valued at $1,341,000 after purchasing an additional 4,483 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in EQT in the 1st quarter valued at about $796,000. Dynasty Wealth Management LLC purchased a new stake in EQT in the 1st quarter valued at about $201,000. B. Riley Wealth Advisors Inc. purchased a new stake in EQT in the 1st quarter valued at about $209,000. Finally, Hancock Whitney Corp grew its holdings in EQT by 3.0% in the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock valued at $541,000 after buying an additional 419 shares during the period. Institutional investors and hedge funds 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.