Morgan Stanley Boosts EQT (NYSE:EQT) Price Target to $49.00

EQT (NYSE:EQT) had its price target raised by Morgan Stanley from $37.00 to $49.00 in a report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the oil and gas producer’s stock.

A number of other brokerages have also recently commented on EQT. Mizuho raised their price objective on shares of EQT from $39.00 to $40.00 and gave the stock a neutral rating in a research note on Tuesday. StockNews.com raised shares of EQT to a sell rating in a research note on Tuesday, March 12th. Piper Sandler raised their price objective on shares of EQT from $45.00 to $47.00 and gave the stock an overweight rating in a research note on Thursday, March 7th. Jefferies Financial Group raised their price objective on shares of EQT from $42.00 to $43.00 and gave the stock a buy rating in a research note on Friday, April 5th. Finally, Truist Financial dropped their price objective on shares of EQT from $37.00 to $35.00 and set a hold rating on the stock in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $43.38.

EQT Price Performance

Shares of NYSE:EQT opened at $36.65 on Wednesday. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The company’s 50 day moving average is $35.92 and its 200 day moving average is $38.06. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The company has a market cap of $16.14 billion, a PE ratio of 8.62 and a beta of 1.12.

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

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.72%. EQT’s payout ratio is currently 14.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Raymond James Financial Services Advisors Inc. lifted its holdings in EQT by 12.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 3,541 shares in the last quarter. Acadian Asset Management LLC purchased a new position in EQT in the 1st quarter valued at $96,000. Great West Life Assurance Co. Can lifted its holdings in EQT by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock valued at $5,891,000 after purchasing an additional 12,466 shares in the last quarter. Raymond James Trust N.A. purchased a new position in EQT in the 1st quarter valued at $539,000. Finally, Blair William & Co. IL purchased a new position in EQT in the 1st quarter valued at $329,000. Hedge funds and other institutional investors 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.