EQT (NYSE:EQT) has been given a $77.00 target price by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, December 20th. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Royal Bank of Canada’s target price suggests a potential upside of 31.71% from the stock’s previous close.
A number of other equities research analysts have also weighed in on EQT. Scotiabank set a $79.00 target price on EQT and gave the company a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $75.00 target price on shares of EQT in a research report on Friday, September 1st. Cowen reaffirmed a “buy” rating and set a $80.00 target price on shares of EQT in a research report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price target on shares of EQT in a research report on Thursday, September 14th. Finally, Seaport Global Securities raised EQT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $79.00 in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $76.75.
Shares of EQT (NYSE EQT) traded down $0.24 during trading on Wednesday, hitting $58.46. The stock had a trading volume of 3,119,905 shares, compared to its average volume of 3,380,000. The stock has a market cap of $15,530.00, a PE ratio of 292.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.76. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.29. EQT has a 12-month low of $49.63 and a 12-month high of $67.84.
EQT (NYSE:EQT) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.17. EQT had a return on equity of 1.61% and a net margin of 1.39%. The company had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $667.05 million. During the same quarter in the previous year, the business earned ($0.26) EPS. EQT’s revenue was up 18.6% compared to the same quarter last year. equities analysts expect that EQT will post 0.86 EPS for the current year.
In other news, Director Thomas F. Karam purchased 10,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $59.26 per share, for a total transaction of $592,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $1,185,200. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David L. Porges sold 53,760 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $59.14, for a total value of $3,179,366.40. Following the sale, the chairman now owns 438,601 shares in the company, valued at approximately $25,938,863.14. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of EQT. Neuberger Berman Group LLC raised its holdings in EQT by 13.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,328,251 shares of the oil and gas producer’s stock worth $136,412,000 after purchasing an additional 270,054 shares during the period. Mitchell Group Inc. raised its holdings in EQT by 11.1% in the 2nd quarter. Mitchell Group Inc. now owns 555,569 shares of the oil and gas producer’s stock worth $32,551,000 after purchasing an additional 55,330 shares during the period. Amalgamated Bank raised its holdings in EQT by 68.8% in the 2nd quarter. Amalgamated Bank now owns 18,031 shares of the oil and gas producer’s stock worth $1,056,000 after purchasing an additional 7,346 shares during the period. UBS Asset Management Americas Inc. raised its holdings in EQT by 8.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 474,265 shares of the oil and gas producer’s stock worth $27,787,000 after purchasing an additional 38,836 shares during the period. Finally, Pinebridge Investments L.P. acquired a new position in EQT in the 2nd quarter worth about $212,000. Hedge funds and other institutional investors own 90.54% of the company’s stock.
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EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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