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

EQT (NYSE:EQT) had its price objective boosted by JPMorgan Chase & Co. from $50.00 to $53.00 in a research note issued to investors on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas producer’s stock.

Several other analysts have also commented on EQT. StockNews.com raised shares of EQT to a “sell” rating in a research report on Monday, December 30th. Bank of America began coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Truist Financial upped their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Stephens raised their price objective on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler upped their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.78.

EQT Stock Performance

Shares of EQT stock opened at $47.02 on Friday. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 55.98 and a beta of 1.12. EQT has a 52-week low of $30.02 and a 52-week high of $48.33. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $43.42 and its 200 day moving average is $37.90.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.30 EPS. On average, sell-side analysts anticipate that EQT will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.34%. The ex-dividend date was Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred 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 in the company, 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 hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Davis Investment Partners LLC lifted its stake in shares of EQT by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after purchasing an additional 317 shares during the period. J.W. Cole Advisors Inc. increased its holdings in EQT by 7.4% in the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 421 shares in the last quarter. Ballentine Partners LLC raised its position in shares of EQT by 8.4% in the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock worth $233,000 after acquiring an additional 486 shares during the period. Financial Avengers Inc. boosted its stake in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares in the last quarter. Finally, Quarry LP grew its position in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.