EQT (NYSE:EQT) Given New $56.00 Price Target at Morgan Stanley

EQT (NYSE:EQT) had its target price hoisted by Morgan Stanley from $45.00 to $56.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

EQT has been the topic of a number of other reports. Mizuho lifted their price objective on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Bank of America assumed coverage on EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Citigroup raised EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. UBS Group increased their target price on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

EQT Stock Performance

EQT opened at $45.95 on Monday. The stock has a market cap of $27.42 billion, a PE ratio of 54.70 and a beta of 1.06. EQT has a 1 year low of $30.02 and a 1 year high of $48.02. The stock’s 50 day simple moving average is $38.45 and its 200-day simple moving average is $37.00. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced 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 analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. Sell-side analysts forecast that EQT will post 1.35 EPS for the current year.

EQT Dividend Announcement

The company also recently declared 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. This represents a $0.63 annualized dividend and a yield of 1.37%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio is 75.00%.

Institutional Trading of EQT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in shares of EQT during the 3rd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in EQT in the second quarter valued at approximately $28,000. Truvestments Capital LLC acquired a new stake in EQT during the 3rd quarter worth $30,000. Hexagon Capital Partners LLC lifted its stake in shares of EQT by 18,080.0% in the 3rd 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 period. Finally, Quarry LP lifted its stake in shares of EQT by 184.7% in the 3rd 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 period. 90.81% of the stock is 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.