Street Calls of the Week
In a remarkable display of market resilience, EQT Corporation (NYSE:EQT)'s stock has soared to a 52-week high, hitting a price level of $50.03. With a market capitalization of $29.79 billion, InvestingPro analysis indicates the stock is trading above its Fair Value, suggesting careful consideration for new positions. This peak reflects a significant uptrend for the natural gas giant, which has seen an impressive 1-year change with an increase of 31.99%. Trading at a P/E ratio of 73.6, the stock has attracted significant investor attention. InvestingPro data reveals that 5 analysts have revised their earnings upwards for the upcoming period, with price targets ranging from $32.41 to $60. The company's performance, particularly over the past year, underscores its robust operational capabilities and the growing importance of natural gas in the global energy mix. With an overall Financial Health score of "FAIR" according to InvestingPro, which offers 12 additional exclusive insights about EQT in their comprehensive Pro Research Report, investors can access deeper analysis to make more informed decisions.
In other recent news, EQT Corp. continues to be a focus of analysts and investors alike with several key developments. JPMorgan maintained its Overweight rating on EQT Corp. and increased the price target to $53.00. This follows EQT's announcement of expected capital expenditure reductions and production improvements for 2025. The company's CFO, David Knop, indicated that the previously announced fiscal year 2025 production guidance should now be considered the minimum expected volume.
On a similar note, Citi analyst Nicholas Herman increased EQT AB (ST:EQTAB)'s stock price target to SEK 340.00, maintaining a Neutral stock rating. EQT also finalized its non-operated assets divestiture in Northeast Pennsylvania for approximately $1.25 billion, a strategic move aimed at improving its financial position. The company extended its share repurchase program to 2026, indicating its financial strength and commitment to shareholder returns.
Lastly, Citi reaffirmed its Buy rating for EQT, following discussions with the company's CFO, Jeremy Knop. This confidence stems from the expected benefits of EQT's acquisition of ETRN and the company's capacity to capitalize on regional growth. These are some of the recent developments that continue to shape EQT's financial and operational landscape.
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