Piper Sandler Raises EQT (NYSE:EQT) Price Target to $36.00

EQT (NYSE:EQT - Get Free Report) had its target price boosted by equities research analysts at Piper Sandler from $35.00 to $36.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the oil and gas producer's stock. Piper Sandler's price objective points to a potential downside of 23.34% from the company's previous close.

A number of other equities research analysts have also recently weighed in on the company. Scotiabank cut EQT from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Jefferies Financial Group increased their price target on EQT from $45.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their price target on EQT from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. StockNews.com upgraded EQT to a "sell" rating in a research note on Saturday, February 8th. Finally, UBS Group increased their price objective on EQT from $54.00 to $58.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $52.44.

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EQT Stock Up 1.7 %

Shares of NYSE EQT traded up $0.80 during trading hours on Thursday, hitting $46.96. The company had a trading volume of 9,479,347 shares, compared to its average volume of 8,826,783. The stock has a market capitalization of $28.06 billion, a P/E ratio of 117.40, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. EQT has a 1-year low of $30.02 and a 1-year high of $56.66. The firm's 50 day moving average is $50.58 and its 200-day moving average is $43.03.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. On average, analysts expect that EQT will post 3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC increased its position in shares of EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer's stock worth $2,327,000 after purchasing an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its stake in EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer's stock valued at $4,878,000 after buying an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in EQT by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after buying an additional 16,416 shares in the last quarter. FMR LLC boosted its stake in EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer's stock valued at $41,520,000 after buying an additional 28,129 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock valued at $298,000 after buying an additional 762 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

About EQT

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.