EQT (NYSE:EQT) Given New $49.00 Price Target at Morgan Stanley

EQT (NYSE:EQT) had its target price increased by research analysts at Morgan Stanley from $37.00 to $49.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 36.00% from the stock’s current price.

A number of other research firms have also weighed in on EQT. JPMorgan Chase & Co. reissued a “neutral” rating and set a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of EQT in a research note on Tuesday, March 5th. StockNews.com raised shares of EQT to a “sell” rating in a report on Tuesday, March 12th. Scotiabank raised shares of EQT from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $40.00 to $52.00 in a report on Thursday, April 11th. Finally, Wells Fargo & Company downgraded EQT from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $48.00 to $37.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.80.

EQT Stock Performance

Shares of NYSE EQT opened at $36.03 on Wednesday. The stock has a market capitalization of $15.87 billion, a PE ratio of 8.48 and a beta of 1.12. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The stock has a 50 day moving average price of $35.85 and a 200 day moving average price of $38.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts predict that EQT will post 1.4 earnings per share for the current fiscal year.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently modified their holdings of EQT. Compound Global Advisors LLC boosted its stake in shares of EQT by 130.2% in the 4th quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer’s stock valued at $15,833,000 after purchasing an additional 231,651 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in EQT by 212.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock worth $6,740,000 after acquiring an additional 118,482 shares during the last quarter. Vanguard Group Inc. increased its position in EQT by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after acquiring an additional 3,539,661 shares during the period. Bank of New York Mellon Corp raised its stake in shares of EQT by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of EQT by 5.4% during the third quarter. Principal Financial Group Inc. now owns 437,630 shares of the oil and gas producer’s stock worth $17,759,000 after purchasing an additional 22,560 shares during the period. 90.81% of the stock is currently owned by 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.