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

EQT (NYSE:EQT) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $58.00 to $68.00 in a research note issued on Thursday,MarketScreener reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.71% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group restated a “buy” rating on shares of EQT in a research report on Sunday, January 18th. The Goldman Sachs Group decreased their price objective on shares of EQT from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Capital One Financial lifted their price target on shares of EQT from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, January 22nd. Scotiabank reduced their target price on shares of EQT from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. Finally, Wolfe Research boosted their price objective on EQT from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Nineteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.09.

EQT Trading Up 0.9%

EQT stock traded up $0.56 during midday trading on Thursday, hitting $60.33. The stock had a trading volume of 468,569 shares, compared to its average volume of 10,877,086. The firm has a market cap of $37.65 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 0.47 and a beta of 0.74. EQT has a 1-year low of $43.57 and a 1-year high of $62.23. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $54.58 and a two-hundred day moving average price of $54.49.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.17. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. EQT had a return on equity of 7.25% and a net margin of 23.59%.EQT’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. On average, sell-side analysts predict that EQT will post 3.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. increased its stake in EQT by 8,000.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 153,431 shares of the oil and gas producer’s stock valued at $8,351,000 after buying an additional 151,537 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of EQT by 116.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 534,485 shares of the oil and gas producer’s stock worth $29,092,000 after purchasing an additional 287,538 shares during the last quarter. First American Bank purchased a new stake in EQT in the 3rd quarter valued at about $1,915,000. Adams Natural Resources Fund Inc. grew its stake in shares of EQT by 97.1% during the 3rd quarter. Adams Natural Resources Fund Inc. now owns 220,500 shares of the oil and gas producer’s stock valued at $12,002,000 after buying an additional 108,600 shares during the period. Finally, Sound Shore Management Inc CT acquired a new position in shares of EQT in the 2nd quarter valued at about $67,539,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.