EQT (NYSE:EQT) Raised to “Buy” at UBS Group

EQT (NYSE:EQT) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a $64.00 price target on the oil and gas producer’s stock, up from their prior price target of $54.00. UBS Group’s price objective indicates a potential upside of 19.82% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Mizuho upped their price objective on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price objective on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Finally, Stephens reduced their price target on EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.94.

EQT Price Performance

Shares of EQT opened at $53.42 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The company’s fifty day moving average price is $50.50 and its 200-day moving average price is $47.81. EQT has a 1-year low of $30.02 and a 1-year high of $56.66. The firm has a market capitalization of $31.98 billion, a PE ratio of 133.54, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts predict that EQT will post 3.27 EPS for the current year.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently bought and sold shares of EQT. University of Texas Texas AM Investment Management Co. lifted its position in shares of EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 205 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 193 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of EQT during the fourth quarter valued at approximately $55,000. Finally, First Horizon Advisors Inc. boosted its position in EQT by 33.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 298 shares during 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.