Wells Fargo slashes price target on EQT Corporation [EQT] – find out why.

EQT Corporation [NYSE: EQT] gained 6.89% or 2.24 points to close at $34.73 with a heavy trading volume of 14446680 shares. The company report on February 22, 2023 that EQT Donates Production Equipment to Ukraine.

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Donation Will Help JSC Ukrgasvydobuvannya Restore Damaged Facilities and Increase Production.

EQT Corporation (NYSE: EQT), the largest producer of natural gas in the United States, today announced that the Company donated oil and gas production equipment to JSC Ukrgasvydobuvannya, Ukraine’s largest gas producer. The equipment will be used to restore damaged oil and gas production facilities and revive critical production in wartime conditions.

It opened the trading session at $32.53, the shares rose to $34.765 and dropped to $32.09, the range by which the price of stock traded the whole day. The daily chart for EQT points out that the company has recorded -30.11% loss over the past six months. However, it is still -62.9% lower than its most recent low trading price.

If we look at the average trading volume of 6.71M shares, EQT reached to a volume of 14446680 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about EQT Corporation [EQT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EQT shares is $48.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EQT stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for EQT Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 25, 2023. While these analysts kept the previous recommendation, Mizuho raised their target price from $61 to $64. The new note on the price target was released on January 10, 2023, representing the official price target for EQT Corporation stock. Previously, the target price had yet another raise to $59, while Wolfe Research analysts kept a Outperform rating on EQT stock. On December 07, 2022, analysts decreased their price target for EQT shares from 60 to 40.

The Average True Range (ATR) for EQT Corporation is set at 1.57, with the Price to Sales ratio for EQT stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 4.33. Price to Free Cash Flow for EQT in the course of the last twelve months was 6.29 with Quick ratio for the last quarter at 1.10.

Trading performance analysis for EQT stock

EQT Corporation [EQT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.11. With this latest performance, EQT shares gained by 4.55% in over the last four-week period, additionally sinking by -30.11% over the last 6 months – not to mention a rise of 59.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EQT stock in for the last two-week period is set at 60.10, with the RSI for the last a single of trading hit 67.89, and the three-weeks RSI is set at 54.94 for EQT Corporation [EQT]. The present Moving Average for the last 50 days of trading for this stock 33.46, while it was recorded at 32.18 for the last single week of trading, and 40.11 for the last 200 days.

EQT Corporation [EQT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and EQT Corporation [EQT] shares currently have an operating margin of +63.78 and a Gross Margin at +66.33. EQT Corporation’s Net Margin is presently recorded at +14.59.

Return on Equity for this stock inclined to 16.71, with Return on Assets sitting at 7.88.

EQT Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

EQT Corporation [EQT]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EQT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for EQT Corporation go to 15.52%.

An analysis of insider ownership at EQT Corporation [EQT]

There are presently around $12,081 million, or 99.20% of EQT stock, in the hands of institutional investors. The top three institutional holders of EQT stocks are: BLACKROCK INC. with ownership of 46,704,505, which is approximately 2.367% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 38,916,045 shares of the stock with an approximate value of $1.35 billion in EQT stocks shares; and STATE STREET CORP, currently with $905.57 million in EQT stock with ownership of nearly 10.225% of the company’s market capitalization.

Positions in EQT Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 356 institutional holders increased their position in EQT Corporation [NYSE:EQT] by around 39,802,165 shares. Additionally, 287 investors decreased positions by around 51,822,253 shares, while 83 investors held positions by with 256,224,457 shares. The mentioned changes placed institutional holdings at 347,848,875 shares, according to the latest SEC report filing. EQT stock had 125 new institutional investments in for a total of 8,909,015 shares, while 98 institutional investors sold positions of 16,608,627 shares during the same period.


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