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

EQT (NYSE:EQT) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $58.00 to $68.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently 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.

EQT has been the topic of several other reports. Wall Street Zen upgraded shares of EQT from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. UBS Group restated a “buy” rating on shares of EQT in a report on Wednesday, January 21st. Scotiabank cut their price objective on EQT from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 21st. Siebert Williams Shank boosted their price objective on shares of EQT from $59.00 to $62.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Finally, Stephens raised their price objective on EQT from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday. Nineteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.09.

EQT Stock Up 0.9%

EQT stock traded up $0.56 during mid-day trading on Thursday, reaching $60.33. 468,569 shares of the company’s stock were exchanged, compared to its average volume of 10,877,086. EQT has a twelve month low of $43.57 and a twelve month high of $62.23. The company has a fifty day moving average of $54.58 and a 200-day moving average of $54.49. The company has a quick ratio of 0.58, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. The company has a market cap of $37.65 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.47 and a beta of 0.74.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.17. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Sell-side analysts expect that EQT will post 3.27 EPS for the current year.

Institutional Trading of EQT

Several large investors have recently modified their holdings of the company. Greykasell Wealth Strategies Inc. acquired a new stake in EQT during the fourth quarter worth about $26,000. Aventura Private Wealth LLC bought a new position in shares of EQT during the fourth quarter worth $31,000. Fortitude Family Office LLC grew its stake in EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of EQT during the second quarter worth $41,000. Finally, Anchor Investment Management LLC lifted its holdings in shares of EQT by 133.3% in 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 in the last quarter. 90.81% of the stock is owned by 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.