Wells Fargo & Company Lowers EQT (NYSE:EQT) to Equal Weight

EQT (NYSE:EQT) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They currently have a $37.00 price objective on the oil and gas producer’s stock, down from their prior price objective of $48.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.90% from the company’s current price.

A number of other analysts have also commented on EQT. The Goldman Sachs Group decreased their target price on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com raised EQT to a “sell” rating in a report on Tuesday, March 12th. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $27.00 to $34.00 in a report on Wednesday, April 10th. Truist Financial decreased their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of EQT in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, EQT currently has a consensus rating of “Hold” and an average target price of $43.13.

EQT Trading Up 0.3 %

Shares of EQT stock traded up $0.11 during mid-day trading on Wednesday, hitting $36.31. The company’s stock had a trading volume of 4,097,848 shares, compared to its average volume of 6,415,925. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The company has a market cap of $15.99 billion, a PE ratio of 8.63 and a beta of 1.12. The company’s fifty day simple moving average is $35.81 and its 200-day simple moving average is $38.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, equities research analysts expect that EQT will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EQT

Institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of EQT by 3.7% during the third quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock worth $299,000 after acquiring an additional 264 shares in the last quarter. Allworth Financial LP lifted its position in shares of EQT by 26.9% during the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 282 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of EQT by 0.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock worth $1,285,000 after acquiring an additional 294 shares in the last quarter. Huntington National Bank lifted its position in shares of EQT by 20.0% during the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 299 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in shares of EQT by 13.0% during the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after acquiring an additional 300 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.