JPMorgan Chase & Co. Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $62.00 to $64.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.35% from the stock’s current price.

EQT has been the topic of a number of other reports. Roth Capital downgraded shares of EQT from a “strong-buy” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $57.00 in a report on Monday, August 18th. Barclays decreased their price target on shares of EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group increased their price objective on EQT from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Mizuho reduced their price objective on EQT from $66.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, Melius assumed coverage on EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average target price of $64.43.

EQT Stock Down 0.2%

Shares of EQT stock opened at $58.53 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market cap of $36.52 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 0.48 and a beta of 0.62. The business’s fifty day moving average is $56.75 and its 200-day moving average is $54.99. EQT has a 1 year low of $42.27 and a 1 year high of $62.23.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the company earned $0.12 earnings per share. EQT’s revenue was up 52.6% compared to the same quarter last year. Equities analysts expect that EQT will post 3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total value of $75,067.38. Following the completion of the sale, the executive vice president directly owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. This represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EQT. Philadelphia Trust Co. increased its holdings in shares of EQT by 665.8% during the 1st quarter. Philadelphia Trust Co. now owns 54,371 shares of the oil and gas producer’s stock valued at $2,905,000 after acquiring an additional 47,271 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in EQT during the first quarter worth approximately $1,957,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in EQT by 25.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,525,776 shares of the oil and gas producer’s stock valued at $134,952,000 after purchasing an additional 506,970 shares during the last quarter. Whittier Trust Co. grew its holdings in EQT by 2.6% during the second quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock valued at $17,662,000 after purchasing an additional 7,647 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of EQT in the first quarter valued at approximately $280,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.