Piper Sandler Lowers EQT (NYSE:EQT) Price Target to $41.00

EQT (NYSE:EQT) had its price target decreased by Piper Sandler from $47.00 to $41.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would indicate a potential upside of 12.33% from the stock’s current price.

A number of other research firms also recently issued reports on EQT. The Goldman Sachs Group decreased their price objective on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Mizuho boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and raised their target price for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group lifted their target price on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, EQT currently has a consensus rating of “Hold” and an average price target of $43.38.

EQT Trading Up 0.8 %

Shares of NYSE:EQT traded up $0.28 on Friday, hitting $36.50. The company had a trading volume of 2,327,330 shares, compared to its average volume of 6,383,016. EQT has a 1 year low of $30.84 and a 1 year high of $45.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $35.88 and its two-hundred day simple moving average is $38.08. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 8.59 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue was up 17.6% on a year-over-year basis. Equities analysts anticipate that EQT will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

Several large investors have recently bought and sold shares of EQT. Private Wealth Management Group LLC bought a new position in EQT during the 4th quarter valued at about $30,000. Laurel Wealth Advisors LLC purchased a new position in shares of EQT during the second quarter valued at approximately $33,000. BKM Wealth Management LLC bought a new position in EQT during the fourth quarter valued at approximately $40,000. Belpointe Asset Management LLC boosted its holdings in EQT by 270.0% in the first quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 918 shares during the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in EQT in the 2nd quarter worth approximately $40,000. 90.81% of the stock is currently owned by institutional investors.

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.