StockNews.com Downgrades EQT (NYSE:EQT) to Sell

EQT (NYSE:EQT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

EQT has been the topic of several other research reports. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. JPMorgan Chase & Co. increased their target price on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Piper Sandler raised their target price on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. UBS Group cut their price target on shares of EQT from $58.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $67.00 target price (up previously from $63.00) on shares of EQT in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.72.

EQT Stock Up 0.3 %

Shares of EQT stock opened at $47.43 on Monday. EQT has a 12-month low of $30.02 and a 12-month 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. The firm has a fifty day moving average of $51.11 and a 200-day moving average of $45.86. The company has a market capitalization of $28.34 billion, a price-to-earnings ratio of 118.58, a P/E/G ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, equities research analysts predict that EQT will post 3.27 earnings per share for the current fiscal year.

Institutional Trading of EQT

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after buying an additional 4,162,065 shares during the period. Geode Capital Management LLC increased its position in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the period. Allspring Global Investments Holdings LLC raised its stake in EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. Slate Path Capital LP bought a new stake in EQT in the 4th quarter valued at about $123,575,000. Finally, Castle Hook Partners LP grew its position in shares of EQT by 199.5% during the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock worth $184,012,000 after purchasing an additional 2,658,375 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.