EQT Corporation Rated “Moderate Buy” by Analysts Amid Market Activity

Shares of EQT Corporation (NYSE: EQT) have received an average recommendation of “Moderate Buy” from twenty-four brokerages monitoring the stock, as reported by MarketBeat. This consensus includes five analysts who have assigned a “hold” rating, while nineteen analysts have issued buy ratings. The average twelve-month target price set by brokerages that have recently updated their assessments is approximately $63.86.

Analysts have been active in reassessing EQT’s stock. Recently, Stephens revised its target price from $69.00 to $68.00 while maintaining an “overweight” rating. Similarly, Scotiabank decreased its price objective from $67.00 to $63.00, categorizing the stock as “sector perform.” On the other hand, Sanford C. Bernstein increased its target from $72.00 to $73.00, giving EQT an “outperform” rating in a report dated January 5, 2023. Additionally, Capital One Financial raised its target from $52.00 to $55.00 and reiterated an “overweight” rating.

Despite these mixed signals, UBS Group confirmed a “buy” rating for EQT stock in a recent analysis.

Stock Performance and Financial Data

On Friday, EQT’s stock opened at $54.73. The company boasts a market capitalization of $34.16 billion and a price-to-earnings ratio of 18.74. Over the past year, the stock has fluctuated between a low of $43.57 and a high of $62.23. The 50-day moving average price stands at $55.41, while the 200-day moving average is $54.26.

In its most recent quarterly earnings report, released on October 21, 2023, EQT reported earnings per share (EPS) of $0.52, exceeding analysts’ expectations of $0.50 by $0.02. The company’s revenue for the quarter was $1.75 billion, slightly below the anticipated $1.78 billion. This revenue figure represents a substantial year-over-year increase of 52.6%, compared to the same quarter in the previous year, when the company posted an EPS of $0.12. Analysts project an EPS of $3.27 for the current fiscal year.

Insider Activity and Institutional Holdings

In related news, J.E.B. Bolen, Executive Vice President, sold 1,422 shares of EQT stock on October 28, 2023, at an average price of $52.79, resulting in a total transaction of $75,067.38. Following this sale, Bolen retains ownership of 69,486 shares, valued at approximately $3,668,165.94. This transaction reflects a 2.01% decrease in Bolen’s position in the company.

Institutional investors play a significant role in EQT’s stock ownership, holding 90.81% of the company’s shares. Recently, several hedge funds adjusted their investments in EQT. Notably, Westpac Banking Corp increased its holdings by 6.6% during the third quarter, now owning 2,671 shares valued at $145,000. Fortitude Family Office LLC significantly raised its stake by 95.6% in the fourth quarter, owning 573 shares worth $31,000.

Other institutional investors, such as Private Trust Co. NA and Rothschild Investment LLC, have also adjusted their stakes in EQT, reflecting a growing interest in the company.

In summary, EQT Corporation’s stock remains a focal point for both analysts and investors, with a mix of ratings and predictions shaping its future trajectory. The company’s performance and the activity of institutional investors indicate a robust engagement in the energy market, particularly in natural gas production.