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

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

EQT has been the topic of a number of other reports. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. UBS Group cut their target price on shares of EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Scotiabank increased their target price on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Citigroup restated a “neutral” rating and issued a $37.00 price target on shares of EQT in a research note on Friday, August 23rd. Finally, Stephens reduced their price objective on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.39.

EQT Trading Up 0.2 %

Shares of EQT stock traded up $0.08 during trading hours on Thursday, hitting $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 fifty-two week low of $30.02 and a fifty-two week high of $45.23. 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’s fifty day moving average is $33.25 and its 200 day moving average is $36.40. The stock has a market capitalization of $15.56 billion, a PE ratio of 25.54 and a beta of 1.06.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. The business had revenue of $952.51 million during 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 company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the business posted ($0.17) earnings per share. Research analysts expect that EQT will post 1.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EQT. Innealta Capital LLC acquired a new position in EQT during the second quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in shares of EQT by 149.5% in 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 period. Wolff Wiese Magana LLC raised its stake 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 worth $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 worth $53,000 after purchasing an additional 570 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in EQT in the 1st quarter valued at $54,000. 90.81% of the stock is owned by hedge funds and other 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.