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

EQT (NYSE:EQT) had its price target increased by stock analysts at Morgan Stanley from $45.00 to $56.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price would suggest a potential upside of 17.52% from the stock’s current price.

Several other analysts have also recently weighed in on the company. Citigroup raised EQT from a “neutral” rating to a “buy” rating and raised their price target for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. UBS Group raised their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Stephens boosted their price target on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America started coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the stock 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 given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.44.

EQT Price Performance

EQT stock opened at $47.65 on Monday. The firm has a 50 day moving average of $38.20 and a 200-day moving average of $36.96. The firm has a market capitalization of $28.43 billion, a P/E ratio of 56.73 and a beta of 1.06. EQT has a 12 month low of $30.02 and a 12 month high of $48.02. 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 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. As a group, sell-side analysts predict that EQT will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

Large investors have recently made changes to their positions in the business. Bard Financial Services Inc. purchased a new stake in shares of EQT in the 3rd quarter worth about $878,000. TD Private Client Wealth LLC grew its position in shares of EQT by 69.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 3,836 shares of the oil and gas producer’s stock worth $141,000 after buying an additional 1,566 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of EQT by 136.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 79,525 shares of the oil and gas producer’s stock worth $2,914,000 after acquiring an additional 45,898 shares in the last quarter. Toronto Dominion Bank lifted its position in EQT by 154.0% during the 3rd quarter. Toronto Dominion Bank now owns 316,518 shares of the oil and gas producer’s stock valued at $11,597,000 after acquiring an additional 191,892 shares during the period. Finally, Financial Avengers Inc. boosted its stake in EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares in the last quarter. 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.