EQT’s (EQT) Overweight Rating Reaffirmed at Morgan Stanley

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

Several other equities research analysts also recently issued reports on the company. Stephens reduced their price objective on EQT from $47.00 to $46.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company raised shares of EQT from an equal weight rating to an overweight rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price target on EQT from $42.00 to $37.00 and set an overweight rating for the company in a report on Thursday, September 12th. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They set an outperform rating and a $51.00 price objective for the company. Finally, Scotiabank upped their target price on shares of EQT from $54.00 to $55.00 and gave the stock a sector outperform rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, EQT currently has an average rating of Hold and a consensus price target of $43.71.

EQT Trading Up 1.1 %

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

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping 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 last year, the company earned ($0.17) EPS. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, analysts predict that EQT will post 1.44 EPS for the current 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 given a dividend of $0.1575 per share. The ex-dividend date of this dividend 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 currently 45.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Innealta Capital LLC bought a new stake in EQT in the second quarter valued at approximately $28,000. Private Wealth Management Group LLC bought a new stake in shares of EQT during the 4th quarter valued at about $30,000. Wolff Wiese Magana LLC raised its stake in EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 908 shares in the last quarter. Blue Trust Inc. boosted its position in EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in EQT in the fourth quarter worth $51,000. 90.81% of the stock is currently owned by hedge funds and other 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.