EQT (NYSE:EQT) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of EQT (NYSE:EQT) from a neutral rating to an overweight rating in a report issued on Tuesday morning, Marketbeat Ratings reports. They currently have $42.00 price objective on the oil and gas producer’s stock.

EQT has been the topic of several other reports. Stephens upped their target price on shares of EQT from $46.00 to $47.00 and gave the company an equal weight rating in a research report on Wednesday, April 24th. The Goldman Sachs Group cut their price target on shares of EQT from $48.00 to $43.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. StockNews.com upgraded shares of EQT to a sell rating in a report on Wednesday, July 17th. Mizuho upped their price target on shares of EQT from $43.00 to $45.00 and gave the company a neutral rating in a report on Monday, May 13th. Finally, Jefferies Financial Group upped their price target on shares of EQT from $43.00 to $48.00 and gave the company a buy rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $45.50.

EQT Stock Down 2.0 %

Shares of NYSE EQT opened at $34.39 on Tuesday. The firm’s 50-day moving average price is $38.46 and its 200-day moving average price is $37.32. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 24.92 and a beta of 1.12. EQT has a 12-month low of $32.07 and a 12-month high of $45.23.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. The firm had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.55%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) EPS. On average, equities research analysts anticipate that EQT will post 1.32 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.1575 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.83%. EQT’s payout ratio is presently 45.65%.

Insider Transactions at EQT

In other news, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Investors Weigh In On EQT

Hedge funds and other institutional investors have recently bought and sold shares of the company. MTM Investment Management LLC purchased a new position in shares of EQT in the second quarter worth $233,000. Bank of New York Mellon Corp increased its stake in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares during the period. Easterly Investment Partners LLC increased its stake in shares of EQT by 9.5% in the second quarter. Easterly Investment Partners LLC now owns 122,147 shares of the oil and gas producer’s stock worth $4,517,000 after acquiring an additional 10,591 shares during the period. Raymond James Trust N.A. increased its stake in shares of EQT by 12.7% in the second quarter. Raymond James Trust N.A. now owns 11,214 shares of the oil and gas producer’s stock worth $415,000 after acquiring an additional 1,262 shares during the period. Finally, Retirement Systems of Alabama increased its stake in shares of EQT by 7.3% in the second quarter. Retirement Systems of Alabama now owns 97,409 shares of the oil and gas producer’s stock worth $3,602,000 after acquiring an additional 6,622 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.