EQT (NYSE:EQT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

EQT (NYSE:EQT) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $50.00 to $53.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.72% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup raised their target price on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com raised shares of EQT to a “sell” rating in a research report on Monday, December 30th. BMO Capital Markets raised their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Sanford C. Bernstein initiated coverage on EQT in a research note on Friday, December 6th. They issued a “market perform” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.78.

EQT Trading Down 0.7 %

Shares of NYSE:EQT opened at $47.02 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $28.06 billion, a PE ratio of 55.98 and a beta of 1.12. EQT has a 1 year low of $30.02 and a 1 year high of $48.33. The firm has a fifty day moving average price of $43.42 and a 200 day moving average price of $37.90.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Analysts expect that EQT will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Several institutional investors have recently added to or reduced their stakes in EQT. Sanctuary Advisors LLC raised its stake in shares of EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after acquiring an additional 32,484 shares during the last quarter. Retirement Systems of Alabama boosted its stake in EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after purchasing an additional 35,733 shares in the last quarter. FMR LLC grew its holdings in shares of EQT by 2.5% during the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after purchasing an additional 28,129 shares during the last quarter. Tidal Investments LLC increased its stake in shares of EQT by 55.8% in the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after buying an additional 21,789 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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.