UBS Group Upgrades EQT (NYSE:EQT) to “Buy”

EQT (NYSE:EQT) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $64.00 price target on the oil and gas producer’s stock, up from their previous price target of $54.00. UBS Group’s price objective would indicate a potential upside of 19.82% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Wells Fargo & Company raised their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 19th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Finally, Mizuho raised their price target on shares of EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.94.

EQT Price Performance

Shares of EQT stock opened at $53.42 on Monday. The firm has a market cap of $31.98 billion, a PE ratio of 133.54, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The company’s fifty day simple moving average is $50.50 and its two-hundred day simple moving average is $47.81. 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 has a 12-month low of $30.02 and a 12-month high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities analysts expect that EQT will post 3.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares during the period. Geode Capital Management LLC lifted its position in shares of EQT by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the period. Capital International Investors boosted its stake in shares of EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after purchasing an additional 2,433,632 shares in the last quarter. Clearbridge Investments LLC increased its holdings in EQT by 14.7% during the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock valued at $637,698,000 after buying an additional 1,774,696 shares during the period. Finally, Invesco Ltd. raised its stake in EQT by 46.3% in the fourth 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 in the last quarter. 90.81% of the stock is currently owned by 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.