EQT’s (EQT) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of EQT (NYSE:EQT) in a research report report published on Monday morning,Benzinga reports. Royal Bank of Canada currently has a $49.00 price objective on the oil and gas producer’s stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group raised their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $47.83.

EQT Stock Performance

Shares of NYSE:EQT opened at $48.97 on Monday. The firm has a market capitalization of $29.22 billion, a PE ratio of 58.30 and a beta of 1.12. EQT has a 12 month low of $30.02 and a 12 month high of $49.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50-day moving average of $44.05 and a two-hundred day moving average of $38.12.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that EQT will post 1.37 earnings per share for the current year.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI increased its position in EQT by 33.6% in the 2nd quarter. National Bank of Canada FI now owns 121,231 shares of the oil and gas producer’s stock valued at $4,448,000 after acquiring an additional 30,492 shares during the period. Victory Capital Management Inc. raised its stake in shares of EQT by 26.4% during the second quarter. Victory Capital Management Inc. now owns 233,196 shares of the oil and gas producer’s stock valued at $8,624,000 after purchasing an additional 48,741 shares in the last quarter. Arizona State Retirement System lifted its holdings in EQT by 7.0% in the second quarter. Arizona State Retirement System now owns 115,011 shares of the oil and gas producer’s stock worth $4,253,000 after purchasing an additional 7,532 shares during the period. Candriam S.C.A. grew its position in EQT by 9.7% in the 2nd quarter. Candriam S.C.A. now owns 27,869 shares of the oil and gas producer’s stock valued at $1,031,000 after buying an additional 2,459 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of EQT by 940.4% during the 2nd quarter. Savant Capital LLC now owns 60,654 shares of the oil and gas producer’s stock worth $2,243,000 after buying an additional 54,824 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.