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

EQT (NYSE:EQT) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $53.00 to $58.00 in a research 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 suggests a potential upside of 15.66% from the company’s previous close.

A number of other research analysts have also recently commented on the company. StockNews.com raised EQT to a “sell” rating in a research note on Saturday, February 8th. Bank of America initiated coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target for the company. Stephens boosted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price target on shares of EQT in a report on Monday, January 6th. Finally, Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

EQT Trading Down 4.6 %

EQT opened at $50.15 on Thursday. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 125.37, a P/E/G ratio of 0.66 and a beta of 1.08. The stock’s 50 day moving average price is $49.57 and its 200-day moving average price is $41.58. EQT has a one year low of $30.02 and a one year high of $56.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last released its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS 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 analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.82% and a net margin of 4.37%. On average, equities analysts forecast that EQT will post 3.27 EPS for the current year.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s 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 transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of large investors have recently made changes to their positions in EQT. HM Payson & Co. acquired a new position in shares of EQT during the third quarter worth $25,000. Truvestments Capital LLC acquired a new position in shares of EQT in the 3rd quarter valued at $30,000. Quarry LP increased its position in shares of EQT by 184.7% in 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. Brown Brothers Harriman & Co. acquired a new position in shares of EQT in the 3rd quarter valued at $36,000. Finally, Financial Avengers Inc. increased its position in shares of EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.