JPMorgan Chase & Co. Issues Pessimistic Forecast for EQT (NYSE:EQT) Stock Price

Key Points

• JPMorgan Chase & Co. has lowered its price target for EQT stock from $64.00 to $62.00, while maintaining an "overweight" rating, indicating a potential upside of 13.74% from the current price.
• Despite the downgrade from JPMorgan, other firms like Citigroup and Bank of America have raised their targets for EQT, with most analysts still rating the stock as a "Buy."
• EQT reported earnings of $0.45 per share for the last quarter, missing estimates, and had a revenue of $1.60 billion, also below expectations.

EQT (NYSE:EQT - Get Free Report) had its price target lowered by analysts at JPMorgan Chase & Co. from $64.00 to $62.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 13.74% from the company's current price.

A number of other research firms have also recently issued reports on EQT. Citigroup increased their price target on EQT from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. UBS Group increased their price target on EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Royal Bank Of Canada increased their price target on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 8th. Melius assumed coverage on EQT in a report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 target price on the stock. Finally, Bank of America increased their target price on EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, EQT currently has an average rating of "Moderate Buy" and an average target price of $63.05.

EQT Stock Performance

NYSE:EQT opened at $54.51 on Tuesday. The company has a market capitalization of $34.02 billion, a PE ratio of 29.47, a P/E/G ratio of 0.44 and a beta of 0.58. EQT has a fifty-two week low of $35.44 and a fifty-two week high of $61.02. The company has a 50 day simple moving average of $51.78 and a two-hundred day simple moving average of $53.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same quarter in the previous year, the company posted ($0.08) earnings per share. Research analysts anticipate that EQT will post 3.27 earnings per share for the current year.

Insider Buying and Selling at EQT

In other EQT news, EVP Sarah Fenton sold 12,438 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total transaction of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EQT

Several large investors have recently made changes to their positions in the business. Anchor Investment Management LLC increased its position in shares of EQT by 133.3% during the 2nd 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 during the last quarter. Captrust Financial Advisors increased its position in shares of EQT by 39.4% during the 2nd quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer's stock valued at $1,786,000 after purchasing an additional 8,658 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of EQT by 495.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer's stock valued at $7,468,000 after purchasing an additional 106,545 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of EQT by 20.1% during the 2nd quarter. Baird Financial Group Inc. now owns 106,473 shares of the oil and gas producer's stock valued at $6,210,000 after purchasing an additional 17,839 shares during the last quarter. Finally, Crescent Grove Advisors LLC purchased a new stake in shares of EQT during the 2nd quarter valued at $273,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.

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