EQT (NYSE:EQT) Given New $39.00 Price Target at JPMorgan Chase & Co.

EQT (NYSE:EQT) had its price target lifted by JPMorgan Chase & Co. from $37.00 to $39.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.67% from the company’s previous close.

EQT has been the topic of several other reports. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial reduced their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. UBS Group decreased their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 target price on shares of EQT in a report on Friday, September 13th. Finally, Jefferies Financial Group upped their price objective on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.39.

EQT Stock Performance

Shares of NYSE EQT traded up $0.08 during midday trading on Thursday, reaching $35.24. The company had a trading volume of 2,445,295 shares, compared to its average volume of 7,064,842. EQT has a 1 year low of $30.02 and a 1 year high of $45.23. The business’s 50-day simple moving average is $33.25 and its 200 day simple moving average is $36.40. 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 stock has a market cap of $15.56 billion, a P/E ratio of 25.54 and a beta of 1.06.

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

Institutional Investors Weigh In On EQT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. raised its position in shares of EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the period. Third Point LLC acquired a new position in EQT in the fourth quarter valued at approximately $75,387,000. Merewether Investment Management LP purchased a new position in EQT in the second quarter worth approximately $69,452,000. Finally, Boston Partners increased its stake in EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after acquiring an additional 966,475 shares during the last quarter. Institutional investors and hedge funds 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.