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

EQT (NYSE:EQT) had its price objective boosted by stock analysts at JPMorgan Chase & Co. from $53.00 to $58.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.42% from the company’s current price.

A number of other analysts have also recently issued reports on EQT. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a report on Monday, January 6th. Jefferies Financial Group upped their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Saturday, February 8th. Finally, Citigroup increased their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

EQT Price Performance

Shares of NYSE:EQT traded down $2.18 on Thursday, hitting $52.06. The company had a trading volume of 3,166,365 shares, compared to its average volume of 8,009,520. The business has a 50 day moving average of $49.44 and a 200 day moving average of $41.50. EQT has a 52-week low of $30.02 and a 52-week high of $56.66. The company has a market cap of $31.06 billion, a PE ratio of 130.20, a PEG ratio of 0.65 and a beta of 1.08. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.82% and a net margin of 4.37%. As a group, equities analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently made changes to their positions in EQT. Parkside Financial Bank & Trust increased its holdings in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of EQT by 4.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 223 shares in the last quarter. Huntington National Bank grew its holdings in EQT by 7.4% in the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock valued at $151,000 after buying an additional 224 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of EQT by 15.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 236 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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.