EQT (NYSE:EQT) Given New $68.00 Price Target at JPMorgan Chase & Co.

EQT (NYSE:EQT) had its price target lifted by JPMorgan Chase & Co. from $58.00 to $68.00 in a research note released on Thursday morning,MarketScreener reports. They currently have an overweight rating on the oil and gas producer’s stock.

Several other research analysts also recently issued reports on the stock. Sanford C. Bernstein boosted their price objective on shares of EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Piper Sandler lifted their target price on EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group cut their price target on EQT from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. UBS Group reissued a “buy” rating on shares of EQT in a report on Wednesday, January 21st. Finally, Mizuho boosted their price objective on EQT from $60.00 to $68.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Nineteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.09.

EQT Stock Performance

EQT stock traded up $0.66 during trading hours on Thursday, reaching $60.43. 1,801,208 shares of the company were exchanged, compared to its average volume of 10,921,198. EQT has a 12 month low of $43.57 and a 12 month high of $62.23. The firm has a market cap of $37.71 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.47 and a beta of 0.74. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $54.58 and a 200 day moving average of $54.49.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 17th. The oil and gas producer reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.17. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. EQT had a net margin of 23.59% and a return on equity of 7.25%. EQT’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. As a group, research analysts anticipate that EQT will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.1%. EQT’s payout ratio is currently 22.60%.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Caxton Associates LLP acquired a new stake in shares of EQT in the 1st quarter valued at $256,000. Focus Partners Wealth increased its position in EQT by 9.0% in the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after purchasing an additional 1,789 shares during the period. Private Trust Co. NA raised its holdings in EQT by 38.1% during the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after purchasing an additional 283 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in EQT during the 2nd quarter worth about $110,000. Finally, Transcend Capital Advisors LLC acquired a new position in EQT during the 2nd quarter valued at about $246,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Company Profile

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.