EQT (NYSE:EQT) Given New $62.00 Price Target at JPMorgan Chase & Co.

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

A number of other research analysts also recently weighed in on the company. Scotiabank raised their price objective on EQT from $66.00 to $68.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 13th. Melius assumed coverage on EQT in a research note on Wednesday, August 20th. They issued a “buy” rating and a $64.00 price objective on the stock. Piper Sandler raised their price objective on EQT from $48.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Morgan Stanley reissued an “overweight” rating on shares of EQT in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a research note 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 company. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $63.05.

EQT Stock Down 0.1%

Shares of EQT stock opened at $54.38 on Tuesday. The firm has a market cap of $33.94 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 0.44 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. EQT has a 52-week low of $35.44 and a 52-week high of $61.02. The stock has a 50-day simple moving average of $51.78 and a 200-day simple moving average of $53.34.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business posted ($0.08) earnings per share. On average, equities research analysts expect that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 6th. EQT’s payout ratio is currently 34.05%.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 4,259 shares of the business’s stock in a transaction that occurred 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 SEC, which can be accessed through this link. Also, EVP Sarah Fenton sold 12,438 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Institutional Trading of EQT

Institutional investors and hedge funds have recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of EQT during the first quarter valued at approximately $35,000. Harbour Investments Inc. increased its position in shares of EQT by 48.4% during the first 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 period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of EQT during the second quarter valued at approximately $41,000. Anchor Investment Management LLC increased its position in shares of EQT by 133.3% during the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 500 shares during the period. Finally, Private Trust Co. NA increased its position in shares of EQT by 38.1% during the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 283 shares during the period. 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.