BMO Capital Remains a Buy on EQT Corporation

By Jason Carr

BMO Capital analyst Phillip Jungwirth reiterated a Buy rating on EQT Corporation (NYSE: EQT) yesterday and set a price target of $70. The company’s shares closed yesterday at $66.10.

According to, Jungwirth is a 2-star analyst with an average return of 0.8% and a 41.7% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Sanchez Energy Corporation, and Rice Midstream Partners.

Currently, the analyst consensus on EQT Corporation is Moderate Buy and the average price target is $77, representing a 16.5% upside.

In a report issued on July 14, Scotiabank also upgraded the stock to Buy with a $81 price target.

Based on EQT Corporation’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $643 million and quarterly net profit of $41.13 million. In comparison, last year the company earned revenue of $346 million and had a GAAP net loss of $259 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EQT in relation to earlier this year.

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EQT Corp. focuses on natural gas production, gathering and transmission in the Appalachian area. The company operates its business through the following segments: EQT Production and EQT Midstream. The EQT Production segment engages in the exploration, development and production of natural gas, natural gas liquids and crude oil.