EQT (NYSE:EQT) Shares Down 4.9% Following Analyst Downgrade

Shares of EQT Co. (NYSE:EQTGet Rating) dropped 4.9% during trading on Tuesday after Morgan Stanley lowered their price target on the stock from $50.00 to $42.00. Morgan Stanley currently has an overweight rating on the stock. EQT traded as low as $33.32 and last traded at $33.51. Approximately 1,382,069 shares traded hands during trading, a decline of 79% from the average daily volume of 6,513,231 shares. The stock had previously closed at $35.24.

Several other research firms have also commented on EQT. The Goldman Sachs Group reduced their price target on shares of EQT from $55.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, December 29th. Mizuho lifted their target price on shares of EQT from $59.00 to $61.00 and gave the company a “buy” rating in a report on Monday, October 24th. Credit Suisse Group dropped their target price on shares of EQT to $60.00 in a report on Tuesday, November 1st. TD Securities dropped their target price on shares of EQT from $62.00 to $61.00 and set a “buy” rating for the company in a report on Friday, October 28th. Finally, Wolfe Research upgraded shares of EQT from a “peer perform” rating to an “outperform” rating and set a $59.00 target price for the company in a report on Wednesday, December 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.53.

Insider Buying and Selling

In related news, EVP William E. Jordan sold 98,783 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $41.51, for a total transaction of $4,100,482.33. Following the completion of the transaction, the executive vice president now owns 297,787 shares in the company, valued at $12,361,138.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC purchased a new stake in EQT in the third quarter valued at $28,000. Exos TFP Holdings LLC purchased a new stake in shares of EQT in the third quarter valued at about $29,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of EQT in the fourth quarter valued at about $33,000. Clearstead Advisors LLC purchased a new stake in shares of EQT in the third quarter valued at about $41,000. Finally, Alta Advisers Ltd purchased a new stake in shares of EQT in the third quarter valued at about $45,000. Institutional investors and hedge funds own 97.60% of the company’s stock.

EQT Stock Down 2.9 %

The business’s fifty day moving average price is $36.96 and its 200 day moving average price is $41.14. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $12.56 billion, a PE ratio of 7.57, a PEG ratio of 0.07 and a beta of 1.21.

EQT (NYSE:EQTGet Rating) last announced its earnings results on Wednesday, October 26th. The oil and gas producer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.74 billion. On average, equities research analysts forecast that EQT Co. will post 3.86 earnings per share for the current fiscal year.

EQT Company Profile

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EQT Corp. is a natural gas production company engaged in the supplying, transmitting, and distribution of natural gas. It has operations in the Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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