EQT (NYSE:EQT) Stock Price Expected to Rise, Citigroup Analyst Says

EQT (NYSE:EQT) had its target price raised by Citigroup from $51.00 to $60.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s target price would suggest a potential upside of 14.17% from the company’s current price.

EQT has been the subject of a number of other research reports. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and increased their target price for the company from $48.00 to $57.00 in a research note on Monday, December 16th. Scotiabank lowered EQT from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Wednesday, January 15th. Morgan Stanley raised their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Piper Sandler raised their price objective on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.22.

EQT Stock Performance

NYSE EQT opened at $52.55 on Monday. The business’s 50-day moving average price is $50.98 and its 200 day moving average price is $43.85. EQT has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a market capitalization of $31.40 billion, a PE ratio of 131.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, research analysts predict that EQT will post 3.27 earnings per share for the current year.

Institutional Trading of EQT

Large investors have recently added to or reduced their stakes in the business. Atria Investments Inc acquired a new position in shares of EQT during the 3rd quarter valued at $201,000. Victory Capital Management Inc. grew its holdings in shares of EQT by 216.2% in the 3rd quarter. Victory Capital Management Inc. now owns 737,309 shares of the oil and gas producer’s stock worth $27,015,000 after acquiring an additional 504,113 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of EQT by 28.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 18,875 shares of the oil and gas producer’s stock worth $692,000 after acquiring an additional 4,145 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of EQT by 245.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,387 shares of the oil and gas producer’s stock worth $967,000 after acquiring an additional 18,757 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of EQT by 112.7% in the 3rd quarter. KBC Group NV now owns 41,637 shares of the oil and gas producer’s stock worth $1,526,000 after acquiring an additional 22,064 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.