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

EQT (NYSE:EQT) had its price objective trimmed by JPMorgan Chase & Co. from $64.00 to $62.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

Several other research firms have also recently weighed in on EQT. Scotiabank increased their price objective on EQT from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 13th. Barclays upped their price target on shares of EQT from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an “overweight” rating on shares of EQT in a research note on Tuesday, July 15th. Piper Sandler boosted their price objective on shares of EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 target price (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.95.

EQT Trading Down 0.7%

Shares of EQT stock opened at $55.76 on Tuesday. EQT has a 12-month low of $35.44 and a 12-month high of $61.02. The company has a market capitalization of $34.80 billion, a PE ratio of 30.14, a price-to-earnings-growth ratio of 0.46 and a beta of 0.50. The firm has a 50 day moving average price of $51.90 and a two-hundred day moving average price of $53.39. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the previous year, the company posted ($0.08) EPS. As a group, analysts predict that EQT will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT’s dividend payout ratio is 34.05%.

Insider Activity at EQT

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC grew its position in EQT by 14.1% in the first quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock valued at $85,000 after acquiring an additional 196 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of EQT by 2.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock valued at $416,000 after purchasing an additional 207 shares in the last quarter. Generali Investments Management Co LLC grew its holdings in shares of EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 211 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 219 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 226 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.