Is EQT Corp (NYSE:EQT) a Stock to Watch Now That JP Morgan Has Begun Covering It?


How JP Morgan Currently Rates EQT Corp (NYSE:EQT)

The Investment firm JP Morgan has have commenced coverage coverage on EQT Corp (NYSE:EQT)’s stock, rating it “Overweight”. This was sent to clients and investors in a note on Wednesday, 9 December.

From a total of 18 analysts covering EQT Corporation (NYSE:EQT) stock, 16 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 84% of the ratings are positive. The highest target price is $100 while the lowest target price is $70. The mean of all analyst targets is $86.17 with a 64.63% above today’s ($52.98) stock price. EQT Corporation was the topic of 15 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs initiated shares on November 17 with “Neutral” rating. KLR Group upgraded EQT stock in a recent report from October 23 to “Buy” rating.

Approximately 1.76M shares of stock traded hands. EQT Corporation (NYSE:EQT) has declined 40.89% since May 6, 2015 and is downtrending. It has underperformed by 40.10% the S&P500.

The overall sentiment of institutions has increased to 1.17 in Q2 2015. Its up 0.15, from 1.02 in 2015Q2. The ratio improved, as 53 institutions have sold all the shares of EQT Corporation that they owned while 137 funds have taken shares off the table. 55 funds have purchased shares for the first time while 168 added to their positions. These institutions now hold 138.89 million shares or 9.56% more than the 126.77 million shares they owned in 2015Q2.

The Fund Caymus Capital Partners L.P. currently is holding shares equating to 10.48% of its total portfolio in EQT Corporation representing a total of 798,085 shares. Another fund,Chapter Iv Investors Llc, is holding a total of 300,000 shares equating to 6.79% of their holdings. Additionally, Key Group Holdings (Cayman) Ltd. has a 1.17 million share stake in EQT Corporation which represents 5.51% of their total portfolio. The Fund, Grt Capital Partners L.L.C., based out of Massachusetts, has also built up a stake in the stock, which represents a total of 4.99% of their total portfolio. Finally Mitchell Group Inc, a fund which is based in the state of Texas reported a total holdings of 598,125 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 25, 2015, shareholders of EQT Corporation have witnessed 1 insider buy, and a total of 1 sale equating to a net activity of approximately $6.49 million . Cary A. Bray Jr. bought 289 shares worth approximately $18,719. Crawford Randall L sold 87,000 shares worth approximately $6.51 million. Porges David L sold 37,494 shares worth approximately $3.30 million. Gardner Lewis B sold 2,874 shares worth approximately $257,683. The company insider Conti Philip P sold 20,504 shares worth $1.86 million.

EQT Corporation is an energy company. The company has a market cap of $8.08 billion. The Firm operates in two business divisions: EQT Production and EQT Midstream. It has 39.28 P/E ratio. EQT Production is a natural gas producer in the Appalachian Basin with approximately 10.7 trillion cubic feet equivalent (Tcfe) of proved natural gas, natural gas liquids (NGLs) and crude oil reserves across approximately 3.4 million acres, including around 630,000 gross acres in the Marcellus play.

According to Zacks Investment Research, “EQT Corporation, formerly Equitable Resources, Inc., is an integrated energy company engaged on Appalachian area natural gas activities, including production, gathering and processing, and distribution, transmission, storage and marketing. EQT Corporation, its divisions and its subsidiaries, offer energy products and services to wholesale and retail customers through two business segments: Equitable Supply and Equitable Utilities. The Equitable Supply segment develops, produces, and sells natural gas, crude oil, and natural gas liquids. It also gathers gas produced by the company and third parties, as well as engages in the processing of natural gas liquids. The Equitable Utilities segment engages in the gathering, transportation, storage, distribution, and sale of natural gas, as well as in the pipeline and storage operations. The company is headquartered in Pittsburgh, Pennsylvania.” Get a free copy of the Zacks research report on EQT Corporation (EQT).