EQT Corp (EQT) Update - Nov 23

[dan_s]

Wells Fargo Stick to Their Buy Rating for EQT
From Investing.com: Nov 23, 2021 07:50AM ET

Wells Fargo (NYSE:WFC) analyst Nitin Kumar CFA maintained a Buy rating on EQT on Friday, setting a price target of $35, which is approximately 67.54% above the present share price of $20.89. < This compares to my current valuation of $36 for EQT. The Company is still working off some "Bad Hedges", but EQT should increase operating cash flow from $2.1 billion in 2021 to over $4.2 billion in 2022 if their realized natural gas price is $3.40/mcf including cash settlements on their hedges. EQT is the largest producer of natural gas in the US by a wide margin. You can find our updated profile on EQT under the Sweet 16 tab on the EPG website.

This should draw more attention to EQT: Based on my forecast model, EQT's operating cash flow should spike from $396.1 million in Q3 to over $781.8 million in Q4

The current consensus among 11 TipRanks analysts is for a Strong Buy rating of shares in EQT, with an average price target of $29.64.
The analysts price targets range from a high of $35 to a low of $23.

In its latest earnings report, released on 09/30/2021, the company reported a quarterly revenue of $1.79 billion and a net profit of $688.43 million. The company's market cap is $7.9 billion.

According to TipRanks.com, Wells Fargo analyst Nitin Kumar CFA is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 12.1% and a 72.73% success rate.

EQT Corp (NYSE:EQT). engages in natural gas production, gathering, and transmission in the Appalachian area. The EQT Production segment focuses on the exploration, development and production of natural gas, natural gas liquids and crude oil. The company was founded in 1888 and is headquartered in Pittsburgh, PA.