EQT (NYSE:EQT) Hits New 1-Year High – Should You Buy?

EQT Co. (NYSE:EQT) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.59 and last traded at $54.05, with a volume of 1032347 shares traded. The stock had previously closed at $53.43.

Wall Street Analyst Weigh In

Several research firms have weighed in on EQT. Bank of America started 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. Citigroup raised their price target on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com raised EQT to a “sell” rating in a report on Monday, December 30th. Truist Financial lifted their target price on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Finally, Mizuho raised EQT from a “neutral” rating to an “outperform” rating and upped their price target for the company from $48.00 to $57.00 in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

EQT Stock Performance

The stock’s 50-day moving average is $46.40 and its 200 day moving average is $39.13. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $31.96 billion, a P/E ratio of 63.76 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company 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 was up 8.2% compared to the same quarter last year. On average, research analysts predict that EQT Co. will post 1.42 earnings per share for the current year.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently modified their holdings of the company. HM Payson & Co. bought a new position in shares of EQT during the third quarter worth about $25,000. Truvestments Capital LLC acquired a new position in EQT during the 3rd quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its stake in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares in the last quarter. Quarry LP raised its holdings in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of EQT in the third quarter worth $36,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.