EQT (NYSE:EQT) Price Target Raised to $70.00 at TD Cowen

EQT (NYSE:EQT) had its price target boosted by equities research analysts at TD Cowen from $65.00 to $70.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. TD Cowen’s price objective indicates a potential upside of 17.24% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Weiss Ratings restated a “buy (b-)” rating on shares of EQT in a research note on Monday, December 29th. Roth Mkm reaffirmed a “neutral” rating on shares of EQT in a research report on Wednesday. UBS Group reiterated a “buy” rating on shares of EQT in a research note on Wednesday, January 21st. Jefferies Financial Group restated a “buy” rating on shares of EQT in a research note on Sunday, January 18th. Finally, Mizuho raised their target price on EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Nineteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.09.

EQT Stock Performance

EQT traded down $0.07 on Friday, reaching $59.71. 735,575 shares of the stock were exchanged, compared to its average volume of 10,894,495. The company’s 50-day moving average price is $54.58 and its 200 day moving average price is $54.49. EQT has a fifty-two week low of $43.57 and a fifty-two week high of $62.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.58. The firm has a market capitalization of $37.26 billion, a PE ratio of 18.07, a PEG ratio of 0.47 and a beta of 0.74.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.17. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that EQT will post 3.27 EPS for the current fiscal year.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently added to or reduced their stakes in EQT. Greykasell Wealth Strategies Inc. acquired a new position in EQT during the fourth quarter worth $26,000. Aventura Private Wealth LLC purchased a new position in EQT in the 4th quarter valued at about $31,000. Fortitude Family Office LLC boosted its holdings in EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in EQT during the 2nd quarter worth approximately $41,000. Finally, Elyxium Wealth LLC purchased a new position in shares of EQT in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.