EQT (NYSE:EQT) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of EQT (NYSE:EQT) from a neutral rating to an overweight rating in a research report released on Tuesday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $42.00 price target on the oil and gas producer’s stock.

EQT has been the topic of a number of other reports. TD Cowen began coverage on shares of EQT in a report on Friday, April 19th. They set a hold rating and a $43.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of EQT from $43.00 to $48.00 and gave the stock a buy rating in a report on Tuesday, June 4th. Wells Fargo & Company cut shares of EQT from an overweight rating to an equal weight rating and reduced their price objective for the stock from $48.00 to $37.00 in a research report on Wednesday, April 17th. Piper Sandler lifted their price objective on shares of EQT from $46.00 to $47.00 and gave the stock an overweight rating in a research report on Thursday, July 18th. Finally, Mizuho lifted their price objective on shares of EQT from $43.00 to $45.00 and gave the stock a neutral rating in a research report on Monday, May 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $45.50.

EQT Price Performance

NYSE EQT opened at $34.39 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. EQT has a 12-month low of $32.07 and a 12-month high of $45.23. The company has a market capitalization of $15.19 billion, a PE ratio of 24.92 and a beta of 1.12. The firm’s 50 day moving average is $38.46 and its 200-day moving average is $37.32.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.55%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. Equities research analysts anticipate that EQT will post 1.32 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.83%. EQT’s dividend payout ratio (DPR) is 45.65%.

Insiders Place Their Bets

In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the transaction, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new stake in EQT during the 4th quarter worth $30,000. Blue Trust Inc. grew its position in EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares during the last quarter. Wolff Wiese Magana LLC grew its position in EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares during the last quarter. BKM Wealth Management LLC bought a new stake in EQT during the 4th quarter worth $40,000. Finally, Principal Securities Inc. bought a new stake in EQT during the 4th quarter worth $51,000. Institutional investors own 90.81% of the company’s stock.

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.