JPMorgan Chase & Co. Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price upped by JPMorgan Chase & Co. from $53.00 to $58.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

A number of other equities research analysts also recently weighed in on EQT. Morgan Stanley raised their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $54.00 in a report on Friday, January 17th. UBS Group raised their price objective on EQT from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup raised their price objective on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial raised their price objective on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, EQT has an average rating of “Hold” and an average price target of $52.17.

EQT Trading Down 4.6 %

Shares of EQT stock opened at $50.15 on Thursday. The stock’s fifty day moving average price is $49.67 and its two-hundred day moving average price is $41.72. The company has a market cap of $29.96 billion, a PE ratio of 125.37, a P/E/G ratio of 0.64 and a beta of 1.08. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Equities analysts predict that EQT will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s payout ratio is presently 157.50%.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EQT. Creative Planning raised its position in shares of EQT by 92.6% in the 3rd quarter. Creative Planning now owns 99,480 shares of the oil and gas producer’s stock worth $3,645,000 after acquiring an additional 47,825 shares in the last quarter. Blue Trust Inc. raised its position in shares of EQT by 168.9% in the 3rd quarter. Blue Trust Inc. now owns 2,684 shares of the oil and gas producer’s stock worth $99,000 after acquiring an additional 1,686 shares in the last quarter. Raymond James & Associates raised its position in shares of EQT by 30.7% in the 3rd quarter. Raymond James & Associates now owns 966,434 shares of the oil and gas producer’s stock worth $35,410,000 after acquiring an additional 226,845 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of EQT by 1,138.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 892,919 shares of the oil and gas producer’s stock worth $32,717,000 after acquiring an additional 820,794 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of EQT by 87.2% in the 3rd quarter. Signaturefd LLC now owns 9,012 shares of the oil and gas producer’s stock worth $330,000 after acquiring an additional 4,198 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Company Profile

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.