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EQT Corporation (NYSE: EQT) – Analysts’ Revisions Show An Improving Sentiment

EQT Corporation (NYSE:EQT) traded at $43.78 at close of the session on Tuesday, 11/22/22, made an upward move of 5.93% on its previous day’s price.

Looking at the stock we see that its previous close was $41.33 and the beta (5Y monthly) reads 1.17 with the day’s price range being $41.95 – $44.59. The company has a trailing 12-month PE ratio of 9.53. In terms of its 52-week price range, EQT has a high of $51.97 and a low of $17.95. The company’s stock has gained about 14.22% over that past 30 days.

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EQT Corporation has a market cap of $16.33 billion and is expected to release its quarterly earnings report on Feb 07, 2023 – Feb 13, 2023. With its Forward Dividend at 0.60 and a yield of 1.37%, the company’s investors could be anxious for the EQT stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $1.82, with the EPS growth for the year raised at $4.52 for 2022 and $9.87 for next year. These figures represent 391.30% and 118.40% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $2.25 billion, with a low of $1.93 billion and a high of $3.2 billion. The median projection represents growth squeezing down to 59.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $6.94 billion, or 49.40% up from figures reported last year.

There have been 3 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the EQT stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 100% Buy.

Based on estimates by 23 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 3 have rated the EQT Corporation (EQT) stock as a Hold, while 18 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 6.00% off its SMA20 and 3.21% from its 50-day simple moving average. The RSI (14) is pointing at 55.62 while the volatility over the past week is 4.65% and jumps to 5.46% over the past one month. The beta value is 1.17, while the average true range (ATR) is currently pointing at 2.35. The average price target for the stock over the next 12 months is $61.80, with the estimates having a low of $50.00 and a high of $82.00. These price ends are -14.21% and -87.3% off the current price level respectively, although investors could be excited at the prospect of a -37.05% if the EQT share price touches on the median price of $60.00.

Let’s briefly compare EQT Corporation (EQT) stock to its peers. We find that current price change of 5.93% and 109.57% over the past 12 months for EQT competes that of EOG Resources Inc. (EOG), which has seen its stock price rise 3.19% in the last trading session and was 76.29% over the last one year. Another of its peers Pioneer Natural Resources Company (PXD) has gained 2.69% previous session, and was 51.40% up over the past year, while Devon Energy Corporation (DVN) was also up 2.05% in the last session, while its price remained in the green at 72.87% over the same period. EQT Corporation has a P/E ratio of 9.53 compared to EOG Resources Inc.’s 11.33 and Pioneer Natural Resources Company’s 8.96. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.

Coming back to EQT Corporation (NYSE:EQT), we note that the average 3-month trading volume was 8.89 million, while that of the preceding 10-day period stands at 5.46 million. Current shares outstanding are 369.99 million.

The insiders hold 0.20% of the company’s shares while institutions hold 99.10%. The data shows that short shares as of Oct 13, 2022, stood at 28.4 million at a short ratio of 2.38. This represents a 7.69% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 24.12 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 100.73% up in year-to-date price movement.

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