Truist Financial Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target hoisted by equities researchers at Truist Financial from $32.00 to $41.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s target price points to a potential downside of 10.77% from the stock’s current price.

EQT has been the topic of a number of other reports. Stephens boosted their price objective on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley raised their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday. Mizuho upped their target price on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, UBS Group raised their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

EQT Price Performance

Shares of EQT stock opened at $45.95 on Tuesday. The firm has a fifty day moving average price of $38.45 and a two-hundred day moving average price of $37.00. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $27.42 billion, a PE ratio of 54.70 and a beta of 1.06.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. Analysts expect that EQT will post 1.35 EPS for the current year.

Hedge Funds Weigh In On EQT

A number of large investors have recently added to or reduced their stakes in EQT. Wellington Management Group LLP grew its position in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. State Street Corp grew its holdings in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT in the third quarter valued at about $562,494,000. Finally, Geode Capital Management LLC grew its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 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.