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

EQT (NYSE:EQT) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $58.00 to $60.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 18.31% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup lowered shares of EQT from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 target price on shares of EQT in a report on Monday, January 6th. StockNews.com raised shares of EQT to a “sell” rating in a report on Saturday, February 8th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Wednesday, January 15th. Finally, Piper Sandler raised their target price on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.56.

EQT Price Performance

NYSE EQT opened at $50.71 on Thursday. EQT has a 12 month low of $30.02 and a 12 month high of $56.66. The stock has a market cap of $30.30 billion, a price-to-earnings ratio of 126.79, a PEG ratio of 0.64 and a beta of 1.12. The company’s 50 day moving average is $50.82 and its two-hundred day moving average is $43.44. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. As a group, research analysts anticipate that EQT will post 3.27 earnings per share for the current year.

Institutional Trading of EQT

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