EQT (NYSE:EQT) Hits New 52-Week High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of recent research reports. Stephens lifted their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Finally, Wells Fargo & Company increased their price target on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. One research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

EQT Price Performance

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

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that EQT Co. will post 1.42 EPS for the current year.

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

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