Citigroup Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price objective boosted by research analysts at Citigroup from $51.00 to $60.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Citigroup’s price target points to a potential upside of 14.17% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on EQT. UBS Group boosted their price objective on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley boosted their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. StockNews.com raised EQT from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Finally, Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $54.22.

EQT Price Performance

EQT stock opened at $52.55 on Monday. The business has a 50 day moving average price of $50.98 and a 200 day moving average price of $43.85. The stock has a market cap of $31.40 billion, a price-to-earnings ratio of 131.38, a PEG ratio of 0.64 and a beta of 1.12. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. 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 (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.81 billion. Equities research analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

Institutional Trading of EQT

A number of institutional investors have recently bought and sold shares of EQT. Atria Investments Inc purchased a new stake in shares of EQT in the third quarter valued at $201,000. Victory Capital Management Inc. lifted its position in shares of EQT by 216.2% in the third quarter. Victory Capital Management Inc. now owns 737,309 shares of the oil and gas producer’s stock valued at $27,015,000 after acquiring an additional 504,113 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of EQT by 28.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 18,875 shares of the oil and gas producer’s stock valued at $692,000 after acquiring an additional 4,145 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of EQT by 245.8% in the third quarter. Oppenheimer & Co. Inc. now owns 26,387 shares of the oil and gas producer’s stock valued at $967,000 after acquiring an additional 18,757 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of EQT by 112.7% in the third quarter. KBC Group NV now owns 41,637 shares of the oil and gas producer’s stock valued at $1,526,000 after acquiring an additional 22,064 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Company Profile

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.