Morgan Stanley Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its target price hoisted by investment analysts at Morgan Stanley from $45.00 to $56.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price points to a potential upside of 17.52% from the company’s previous close.

A number of other brokerages also recently issued reports on EQT. JPMorgan Chase & Co. boosted their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. UBS Group raised their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets increased their target price on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and an average target price of $43.44.

EQT Trading Up 3.8 %

NYSE EQT opened at $47.65 on Monday. The business’s 50-day moving average price is $38.20 and its two-hundred day moving average price is $36.96. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $28.43 billion, a PE 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.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that EQT will post 1.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HM Payson & Co. bought a new position in shares of EQT during the 3rd quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in EQT in the second quarter valued at approximately $28,000. Truvestments Capital LLC bought a new position in EQT during the third quarter valued at $30,000. Hexagon Capital Partners LLC increased its position in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the last quarter. Finally, Quarry LP raised its stake in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares during the period. 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.