EQT (NYSE:EQT) Stock Price Expected to Rise, Morgan Stanley Analyst Says

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

A number of other equities analysts have also commented on EQT. JPMorgan Chase & Co. lifted their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. Mizuho increased their price objective on shares of EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Bank of America assumed coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, BMO Capital Markets increased their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.67.

EQT Trading Down 0.6 %

Shares of NYSE EQT opened at $45.29 on Monday. The stock has a market cap of $27.02 billion, a P/E ratio of 53.92 and a beta of 1.06. The firm has a 50 day moving average price of $38.93 and a two-hundred day moving average price of $37.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a 52-week low of $30.02 and a 52-week high of $48.02.

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

EQT Dividend Announcement

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

Hedge Funds Weigh In On EQT

A number of hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new position in shares of EQT in the third quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in EQT during the 2nd quarter valued at $28,000. Truvestments Capital LLC bought a new stake in shares of EQT in the 3rd quarter worth $30,000. Hexagon Capital Partners LLC raised its holdings in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. 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.