EQT (NYSE:EQT) Price Target Cut to $36.00 by Analysts at UBS Group

EQT (NYSE:EQT) had its target price reduced by analysts at UBS Group from $38.00 to $36.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective suggests a potential upside of 3.66% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Truist Financial cut their target price on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Citigroup reiterated a “neutral” rating and issued a $37.00 target price on shares of EQT in a research note on Friday, August 23rd. Mizuho dropped their price target on shares of EQT from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $45.00 target price on shares of EQT in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.28.

EQT Stock Performance

Shares of EQT stock opened at $34.73 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $33.33 and a two-hundred day simple moving average of $36.47. EQT has a 12 month low of $30.02 and a 12 month high of $45.23. The firm has a market capitalization of $15.34 billion, a PE ratio of 25.17 and a beta of 1.06.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) EPS. Analysts forecast that EQT will post 1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of EQT in the second quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its holdings in EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the period. Blue Trust Inc. lifted its position in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares in the last quarter. Principal Securities Inc. bought a new position in shares of EQT in the fourth quarter worth $51,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of EQT by 414.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,186 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.