EQT (NYSE:EQT) Given Overweight Rating at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of EQT (NYSE:EQT) in a research report released on Friday morning, Benzinga reports. They currently have a $45.00 target price on the oil and gas producer’s stock.

Several other research analysts also recently weighed in on the company. Citigroup restated a neutral rating and set a $37.00 target price on shares of EQT in a research note on Friday, August 23rd. Jefferies Financial Group lifted their price objective on EQT from $43.00 to $48.00 and gave the company a buy rating in a research note on Tuesday, June 4th. Truist Financial dropped their price objective on EQT from $36.00 to $32.00 and set a hold rating on the stock in a report on Monday, July 22nd. Piper Sandler cut shares of EQT from an overweight rating to a neutral rating and cut their target price for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Finally, Stephens decreased their target price on shares of EQT from $47.00 to $46.00 and set an equal weight rating on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $43.71.

EQT Price Performance

NYSE:EQT opened at $33.55 on Friday. EQT has a 52 week low of $30.02 and a 52 week high of $45.23. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a market cap of $14.82 billion, a PE ratio of 24.31 and a beta of 1.06. The business’s 50-day simple moving average is $33.51 and its two-hundred day simple moving average is $36.53.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. As a group, analysts forecast that EQT will post 1.44 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.88%. EQT’s dividend payout ratio (DPR) is 45.65%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EQT. Innealta Capital LLC acquired a new stake in shares of EQT in the second quarter valued at $28,000. Private Wealth Management Group LLC acquired a new position in shares of EQT during the 4th quarter valued at about $30,000. Blue Trust Inc. raised its position in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares in the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the period. Finally, Principal Securities Inc. acquired a new position in EQT in the fourth quarter valued at about $51,000. 90.81% of the stock is currently owned by institutional investors.

About EQT

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.