Sanford C. Bernstein Initiates Coverage on EQT (NYSE:EQT)

Investment analysts at Sanford C. Bernstein started coverage on shares of EQT (NYSE:EQT - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm set a "market perform" rating and a $50.00 price target on the oil and gas producer's stock. Sanford C. Bernstein's target price indicates a potential upside of 15.37% from the company's previous close.

EQT has been the subject of a number of other research reports. UBS Group upped their price target on shares of EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Stephens raised their target price on EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Mizuho boosted their price target on EQT from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They issued a "buy" rating and a $50.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.11.

EQT Price Performance

Shares of EQT stock traded down $1.11 during trading on Friday, hitting $43.34. The company had a trading volume of 7,155,920 shares, compared to its average volume of 7,166,675. The stock's 50-day moving average price is $40.08 and its 200 day moving average price is $37.31. EQT has a one year low of $30.02 and a one year high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $25.86 billion, a P/E ratio of 51.73 and a beta of 1.14.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. Equities analysts expect that EQT will post 1.36 EPS for the current fiscal year.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. purchased a new stake in shares of EQT in the 3rd quarter valued at about $25,000. Innealta Capital LLC bought a new position in shares of EQT in the second quarter worth approximately $28,000. Truvestments Capital LLC purchased a new stake in EQT in the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 904 shares during the last quarter. Finally, Quarry LP lifted its position in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 578 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.