Piper Sandler Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective lifted by equities researchers at Piper Sandler from $35.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would suggest a potential downside of 28.25% from the company’s current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company raised their target price on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Jefferies Financial Group raised their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. UBS Group upped their price objective on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Saturday, February 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.44.

EQT Stock Performance

EQT stock opened at $50.18 on Thursday. The company has a market cap of $29.98 billion, a P/E ratio of 125.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. The firm’s 50 day simple moving average is $50.48 and its 200-day simple moving average is $42.77. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $56.66.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, equities research analysts predict that EQT will post 3.27 EPS for the current year.

Hedge Funds Weigh In On EQT

A number of hedge funds have recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in shares of EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after acquiring an additional 32,484 shares in the last quarter. Retirement Systems of Alabama lifted its stake in EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after buying an additional 16,416 shares in the last quarter. FMR LLC raised its holdings in EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after buying an additional 28,129 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after acquiring an additional 5,489 shares during the last quarter. Hedge funds and other 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.