EQT Corp. Downgraded by Morgan Stanley to “Equal Weight” (EQT)
EQT Corp. (NYSE:EQT) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, ARN reports.
Shares of EQT Corp. (NYSE:EQT) opened at 87.57 on Monday. EQT Corp. has a 52 week low of $56.45 and a 52 week high of $94.42. The stock’s 50-day moving average is $87.30 and its 200-day moving average is $79.83. The company has a market cap of $13.188 billion and a P/E ratio of 49.45.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The company had revenue of $520.10 million for the quarter, compared to the consensus estimate of $477.47 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 54.0% on a year-over-year basis. On average, analysts predict that EQT Corp. will post $2.44 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of EQT Corp. from $95.00 to $99.00 in a research note to investors on Wednesday, August 28th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of EQT Corp. in a research note to investors on Thursday, August 8th. They now have a $88.00 price target on the stock. Finally, analysts at Howard Weil raised their price target on shares of EQT Corp. from $100.00 to $105.00 in a research note to investors on Monday, July 29th. They now have a “sector outperform” rating on the stock. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $87.25.
EQT Corporation (NYSE:EQT) conducts its business through three business segments: EQT Production, EQT Midstream and Distribution.
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