EQT (NYSE:EQT) Rating Increased to Sector Outperform at Scotiabank

EQT (NYSE:EQT) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $52.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $40.00. Scotiabank’s price target points to a potential upside of 39.60% from the stock’s current price.

A number of other brokerages have also issued reports on EQT. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $37.00 target price (down from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Truist Financial reduced their target price on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. StockNews.com raised shares of EQT to a “sell” rating in a research note on Tuesday, March 12th. Finally, Mizuho reissued a “neutral” rating and set a $39.00 price target on shares of EQT in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.13.

EQT Price Performance

NYSE:EQT opened at $37.25 on Thursday. The firm has a market cap of $16.41 billion, a PE ratio of 8.76 and a beta of 1.12. EQT has a 12 month low of $30.84 and a 12 month high of $45.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $35.73 and its two-hundred day moving average price is $38.18.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business earned $0.42 earnings per share. EQT’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts anticipate that EQT will post 2.2 EPS for the current fiscal year.

Institutional Investors Weigh In On EQT

Large investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in 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 purchasing an additional 264 shares during the last quarter. Allworth Financial LP boosted its holdings in 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 purchasing an additional 282 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in 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 purchasing an additional 294 shares during the last quarter. Huntington National Bank boosted its holdings in 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 purchasing an additional 299 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in 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 purchasing an additional 300 shares during the last quarter. 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.