JPMorgan Chase & Co. Boosts EQT (NYSE:EQT) Price Target to $39.00

EQT (NYSE:EQT) had its price objective boosted by JPMorgan Chase & Co. from $37.00 to $39.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

A number of other research analysts also recently commented on the company. Citigroup restated a neutral rating and set a $37.00 price objective on shares of EQT in a research note on Friday, August 23rd. Piper Sandler downgraded EQT from an overweight rating to a neutral rating and lowered their price objective for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Morgan Stanley restated an overweight rating and set a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. StockNews.com upgraded EQT to a sell rating in a research note on Friday, July 26th. Finally, Scotiabank increased their price target on EQT from $54.00 to $55.00 and gave the stock a sector outperform rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $42.29.

EQT Stock Performance

EQT stock opened at $36.53 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $16.13 billion, a P/E ratio of 26.47 and a beta of 1.06. EQT has a 12-month low of $30.02 and a 12-month high of $45.23. The stock’s 50 day simple moving average is $33.27 and its 200 day simple moving average is $36.44.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS. As a group, equities research analysts predict that EQT will post 1.37 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.72%. EQT’s dividend payout ratio is currently 45.65%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQT. Innealta Capital LLC purchased a new stake in shares of EQT during the second quarter valued at $28,000. Blue Trust Inc. lifted its holdings in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 908 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in shares of EQT by 65.5% during the second quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 570 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of EQT during the first quarter valued at $54,000. Institutional investors own 90.81% of the company’s stock.

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.