Citigroup Upgrades EQT Stock with Positive Forecast

Citigroup recently raised its price target for EQT (NYSE:EQT) shares from $44.00 to $51.00, suggesting a strong outlook for the company. In a research note released on Friday, the firm maintained a "buy" rating on the stock, indicating potential for growth. This new price target suggests that there could be a 17.43% upside from the company's previous closing price.

Market Sentiment on EQT

Other analysts have also weighed in on EQT recently. The Royal Bank of Canada reaffirmed a "sector perform" rating, setting a price target of $49.00 in a report issued on Tuesday. Meanwhile, Wells Fargo & Company boosted their price target from $42.00 to $52.00 and assigned an "overweight" rating on Monday, November 25th. Additionally, Stephens raised their price target for EQT from $37.00 to $38.00, giving it an "equal weight" rating in their report on October 30th. Similarly, JPMorgan Chase & Co. increased its target price from $37.00 to $39.00 and also provided an "overweight" rating, as detailed in a report dated September 26th. Furthermore, Sanford C. Bernstein initiated coverage on EQT with a "market perform" rating and a price target of $50.00.

Analyst Ratings Summary

Currently, the consensus among analysts indicates one sell rating, eight hold ratings, and ten buy ratings for EQT. According to market data, the average target price for EQT shares stands at $46.11.

Recent Stock Performance

On Friday, shares of EQT traded down by $1.02, bringing the price down to $43.43. The stock experienced a trading volume of 3,808,295 shares, which is lower than its average trading volume of 7,151,411. EQT's recent performance shows a 50-day moving average of $40.08 and a 200-day moving average of $37.31. The stock has ranged between a 12-month low of $30.02 and a high of $48.02. The company has a debt-to-equity ratio of 0.65 and a current ratio of 0.51.

Financial Highlights

EQT recently announced its quarterly earnings on October 29th, revealing earnings of $0.12 per share, surpassing the analyst consensus estimate of $0.06. The company achieved a net margin of 5.52% alongside a return on equity of 3.74%, with reported revenues of $1.28 billion for the quarter, compared to analysts' expectations of $1.35 billion. On a year-over-year basis, revenue increased by 8.2%. Analysts project EQT will report earnings of 1.36 per share for the current fiscal year.

Insider Activity and Institutional Trading

In related activities, Director Thomas F. Karam sold 30,154 shares of EQT on December 3rd, at an average price of $44.83 for a total of approximately $1.35 million. After this transaction, he holds about 201,608 shares in the company. Additionally, several institutional investors have recently adjusted their stakes in EQT. Charles Schwab Investment Management increased its holdings by 28.4% during the third quarter, now owning over 5 million shares valued at approximately $183 million. Other firms, including Cetera Investment Advisers and Swiss National Bank, have also significantly modified their positions.

Company Overview

EQT Corporation is a prominent natural gas production company operating primarily in the United States. The firm engages in the selling of natural gas and natural gas liquids, serving a variety of customers including marketers and utilities through pipelines located in the Appalachian Basin.

EQT, Citigroup, Stock