Morgan Stanley Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

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

Several other brokerages have also weighed in on EQT. Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Bank of America assumed 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. JPMorgan Chase & Co. raised their price objective on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and raised their price objective for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.67.

EQT Stock Performance

EQT stock opened at $45.28 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $27.02 billion, a P/E ratio of 53.91 and a beta of 1.06. The firm has a 50 day simple moving average of $39.14 and a 200 day simple moving average of $37.16. EQT has a 52 week low of $30.02 and a 52 week high of $48.02.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Research analysts anticipate that EQT will post 1.38 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently bought and sold shares of EQT. HM Payson & Co. acquired a new stake in EQT during the third quarter worth $25,000. Innealta Capital LLC acquired a new position in EQT during the 2nd quarter worth about $28,000. Truvestments Capital LLC acquired a new position in EQT during the 3rd quarter worth about $30,000. Quarry LP lifted its position in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% during the 3rd 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 in the last quarter. Institutional investors own 90.81% of the company’s stock.

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.