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

by · The Markets Daily

EQT (NYSE:EQT – Free Report) had its target price increased by JPMorgan Chase & Co. from $37.00 to $39.00 in a research report 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 equities research analysts also recently weighed in on the company. Piper Sandler downgraded EQT from an overweight rating to a neutral rating and cut their price target for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a hold rating on the stock in a report on Monday, July 22nd. Morgan Stanley reissued an overweight rating and set a $45.00 price objective on shares of EQT in a report on Friday, September 13th. UBS Group lowered their price objective on EQT from $38.00 to $36.00 and set a neutral rating on the stock in a report on Wednesday, September 18th. Finally, Wolfe Research initiated coverage on EQT in a report on Thursday, July 18th. They set an outperform rating and a $51.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $42.29.

Read Our Latest Research Report on EQT

EQT Stock Up 2.9 %

EQT opened at $36.53 on Thursday. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The business has a 50-day moving average of $33.27 and a 200-day moving average of $36.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $16.13 billion, a PE ratio of 26.47 and a beta of 1.06.

EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the business earned ($0.17) EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. Equities research analysts forecast that EQT will post 1.37 EPS for the current fiscal 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 $0.1575 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. EQT’s payout ratio is 45.65%.

Institutional Investors Weigh In On EQT

A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its position in shares of EQT by 32.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 61,955 shares of the oil and gas producer’s stock valued at $2,395,000 after acquiring an additional 15,104 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of EQT by 12.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 104,721 shares of the oil and gas producer’s stock valued at $4,049,000 after acquiring an additional 11,441 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of EQT by 7.1% during the 4th quarter. Hsbc Holdings PLC now owns 481,811 shares of the oil and gas producer’s stock valued at $18,656,000 after acquiring an additional 31,900 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of EQT during the 4th quarter valued at about $441,000. Finally, TD Asset Management Inc boosted its position in shares of EQT by 19.7% during the 4th quarter. TD Asset Management Inc now owns 1,097,848 shares of the oil and gas producer’s stock valued at $42,443,000 after acquiring an additional 180,831 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

(Get Free Report)

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.

See Also