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EQT Corporation (NYSE:EQT)’s stock price has reached a new 52-week high, hitting $57.39, with a market capitalization of $34 billion. According to InvestingPro data, the stock currently trades at a P/E ratio of 75.6, suggesting a premium valuation relative to industry peers. This milestone underscores a significant upward trend as the energy company experiences a 1-year change of 47.65%. The impressive growth in EQT Corporation’s stock value is supported by strong fundamentals, including 39.4% revenue growth and a steady 1.11% dividend yield. The company’s robust performance and strategic endeavors over the past year have captured investor attention, with analysts setting a high price target of $74. This latest high point reaffirms the stock’s resilience amidst fluctuating market conditions. For deeper insights into EQT (ST:EQTAB)’s valuation and growth prospects, including 12 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, EQT Corporation reported first-quarter earnings that exceeded expectations, with gas volumes and unit pricing surpassing consensus estimates by 8% and 7%, respectively. This resulted in a 17% beat on EBITDA and a 34% beat on free cash flow. Additionally, EQT announced a definitive agreement to acquire oil and gas properties from Olympus Energy LLC, Hyperion Midstream LLC, and Bow & Arrow Land Company LLC. As part of the transaction, EQT will issue over 26 million shares of its common stock.
UBS has upgraded EQT’s stock rating to Buy, raising the price target to $64, citing improved operational performance and a positive outlook for natural gas. Meanwhile, Bernstein has increased EQT’s price target to $74, maintaining an Outperform rating, following the company’s robust earnings report. EQT has also agreed to sell Acumatica to Vista Equity Partners, marking a significant development in its business strategy.
Bernstein analysts have highlighted EQT as a top investment idea, noting its strong position in the U.S. natural gas market and potential for steady free cash flow generation. These recent developments underscore EQT’s strategic moves in the natural gas sector and its ongoing efforts to enhance its market position.
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