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

EQT (NYSE:EQT) had its target price hoisted by equities research 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 would indicate a potential upside of 15.66% from the company’s previous close.

Several other research firms also recently weighed in on EQT. Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. Citigroup lifted their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their target price on EQT from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $57.00 in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

EQT Stock Performance

EQT stock opened at $50.15 on Thursday. The company has a market cap of $29.92 billion, a P/E ratio of 125.37, a price-to-earnings-growth ratio of 0.66 and a beta of 1.08. EQT has a 1 year low of $30.02 and a 1 year high of $56.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock’s fifty day moving average price is $49.57 and its 200-day moving average price is $41.58.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate 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 earnings per share for the current year.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Several large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its stake in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock worth $218,000 after acquiring an additional 223 shares during the last quarter. Huntington National Bank increased its stake in EQT by 7.4% during the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock worth $151,000 after acquiring an additional 224 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in EQT by 15.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after acquiring an additional 236 shares during the last quarter. 90.81% of the stock is 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.