Morgan Stanley Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

EQT (NYSE:EQT) had its price objective boosted by Morgan Stanley from $45.00 to $56.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the stock. UBS Group upped their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, Bank of America assumed coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Trading Down 0.6 %

EQT opened at $45.28 on Monday. The stock has a market capitalization of $27.02 billion, a PE ratio of 53.91 and a beta of 1.06. The firm’s fifty day moving average price is $39.14 and its 200 day moving average price is $37.16. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a 12-month low of $30.02 and a 12-month high of $48.02.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, research analysts expect that EQT will post 1.38 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.39%. EQT’s payout ratio is 75.00%.

Hedge Funds Weigh In On EQT

Several hedge funds have recently made changes to their positions in EQT. Advisors Asset Management Inc. grew its stake in shares of EQT by 14.1% in the 1st quarter. Advisors Asset Management Inc. now owns 36,165 shares of the oil and gas producer’s stock worth $1,341,000 after purchasing an additional 4,483 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of EQT in the first quarter worth about $796,000. Dynasty Wealth Management LLC acquired a new position in shares of EQT in the first quarter worth about $201,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of EQT in the first quarter worth about $209,000. Finally, Hancock Whitney Corp boosted its holdings in shares of EQT by 3.0% in the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 419 shares during the period. Institutional investors and hedge funds 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.