EQT (NYSE:EQT) Stock Rating Lowered by Scotiabank

Scotiabank downgraded shares of EQT (NYSE:EQT) from a sector outperform rating to a sector perform rating in a report released on Friday morning, Marketbeat.com reports. The brokerage currently has $54.00 price objective on the oil and gas producer’s stock, down from their prior price objective of $55.00.

Other analysts have also recently issued reports about the company. Stephens increased their price objective on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised EQT to a “sell” rating in a report on Monday, December 30th. BMO Capital Markets boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $49.89.

EQT Stock Performance

Shares of EQT stock opened at $52.93 on Friday. The stock has a market capitalization of $31.58 billion, a price-to-earnings ratio of 63.02 and a beta of 1.12. The firm’s fifty day simple moving average is $45.83 and its 200-day simple moving average is $38.79. 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 12 month low of $30.02 and a 12 month high of $53.98.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating 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 analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that EQT will post 1.44 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Veracity Capital LLC purchased a new position in EQT in the 4th quarter valued at about $823,000. Bill Few Associates Inc. purchased a new position in shares of EQT during the fourth quarter valued at approximately $247,000. Janney Montgomery Scott LLC boosted its position in EQT by 8.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 234,183 shares of the oil and gas producer’s stock worth $10,798,000 after acquiring an additional 19,025 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in EQT by 12.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 31,072 shares of the oil and gas producer’s stock worth $1,433,000 after acquiring an additional 3,417 shares during the period. Finally, Viking Fund Management LLC raised its holdings in EQT by 120.0% in the 4th quarter. Viking Fund Management LLC now owns 110,000 shares of the oil and gas producer’s stock valued at $5,072,000 after acquiring an additional 60,000 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.