Wells Fargo & Company Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its target price boosted by equities research analysts at Wells Fargo & Company from $59.00 to $63.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.04% from the company’s previous close.

EQT has been the subject of several other research reports. Citigroup boosted their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Piper Sandler boosted their price objective on EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Finally, Stephens dropped their price target on EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.39.

EQT Price Performance

Shares of NYSE EQT opened at $58.86 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $59.11. The business has a 50 day moving average price of $53.53 and a two-hundred day moving average price of $50.82. The firm has a market cap of $35.23 billion, a PE ratio of 103.26, a price-to-earnings-growth ratio of 0.36 and a beta of 0.65.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Sell-side analysts expect that EQT will post 3.27 earnings per share for the current fiscal year.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently modified their holdings of the company. Drummond Knight Asset Management Pty Ltd increased its position in EQT by 26.2% in the 1st quarter. Drummond Knight Asset Management Pty Ltd now owns 281,569 shares of the oil and gas producer’s stock worth $15,044,000 after purchasing an additional 58,436 shares during the last quarter. Hodges Capital Management Inc. acquired a new position in EQT in the first quarter worth approximately $1,977,000. Strs Ohio bought a new position in EQT during the first quarter valued at approximately $1,844,000. Geneos Wealth Management Inc. lifted its stake in EQT by 31.6% in the first quarter. Geneos Wealth Management Inc. now owns 5,301 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 1,273 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in EQT by 10.2% in the first quarter. IFM Investors Pty Ltd now owns 96,218 shares of the oil and gas producer’s stock valued at $5,141,000 after acquiring an additional 8,918 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.