EQT (EQT) Given a $48.00 Price Target by Morgan Stanley Analysts

Share on StockTwits

Morgan Stanley set a $48.00 price target on EQT (NYSE:EQT) in a research note issued to investors on Friday. The brokerage currently has a hold rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently issued reports on EQT. ValuEngine cut shares of EQT from a sell rating to a strong sell rating in a report on Wednesday, July 4th. Royal Bank of Canada set a $74.00 price target on shares of EQT and gave the company a buy rating in a research note on Thursday, July 19th. Goldman Sachs Group assumed coverage on shares of EQT in a research note on Monday, September 17th. They issued a neutral rating and a $54.00 price target on the stock. TD Securities assumed coverage on shares of EQT in a research note on Thursday, July 5th. They issued a hold rating and a $57.00 price target on the stock. Finally, TheStreet upgraded shares of EQT from a d+ rating to a c- rating in a research note on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $65.85.

Shares of EQT stock traded up $0.05 on Friday, reaching $45.40. The stock had a trading volume of 2,007,226 shares, compared to its average volume of 3,123,998. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.33 and a beta of 0.61. EQT has a 12 month low of $43.53 and a 12 month high of $66.03.

EQT (NYSE:EQT) last issued its earnings results on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.13 billion. EQT had a negative net margin of 6.19% and a positive return on equity of 3.73%. EQT’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. Sell-side analysts predict that EQT will post 2.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.26%. EQT’s dividend payout ratio (DPR) is currently 8.16%.

In other EQT news, Director Kenneth Michael Burke bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average price of $50.20 per share, for a total transaction of $251,000.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $251,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.68% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Cerebellum GP LLC boosted its position in shares of EQT by 71.4% during the 3rd quarter. Cerebellum GP LLC now owns 3,488 shares of the oil and gas producer’s stock worth $154,000 after acquiring an additional 1,453 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in EQT in the 2nd quarter valued at approximately $163,000. Mount Yale Investment Advisors LLC bought a new position in EQT in the 1st quarter valued at approximately $191,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in EQT in the 2nd quarter valued at approximately $207,000. Finally, Dupont Capital Management Corp lifted its stake in EQT by 48.7% in the 2nd quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after purchasing an additional 1,270 shares during the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

See Also: Why does a company issue an IPO?

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply