Morgan Stanley Increases EQT (NYSE:EQT) Price Target to $49.00

EQT (NYSE:EQT) had its price objective lifted by equities researchers at Morgan Stanley from $37.00 to $49.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target indicates a potential upside of 35.30% from the stock’s current price.

A number of other brokerages have also issued reports on EQT. Jefferies Financial Group increased their price objective on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Truist Financial cut their target price on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Mizuho upped their target price on EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group cut their target price on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.80.

EQT Stock Performance

Shares of EQT stock opened at $36.22 on Wednesday. EQT has a 12-month low of $30.84 and a 12-month high of $45.23. The firm has a market capitalization of $15.95 billion, a price-to-earnings ratio of 8.52 and a beta of 1.12. The business has a 50 day simple moving average of $35.88 and a 200 day simple moving average of $38.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities research analysts anticipate that EQT will post 1.4 EPS for the current year.

Institutional Trading of EQT

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp lifted its holdings in shares of EQT by 3.7% in the third quarter. Fifth Third Bancorp now owns 7,363 shares of the oil and gas producer’s stock valued at $299,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP increased its stake in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 282 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of EQT by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,672 shares of the oil and gas producer’s stock worth $1,285,000 after acquiring an additional 294 shares during the last quarter. Huntington National Bank increased its position in EQT by 20.0% during the third quarter. Huntington National Bank now owns 1,792 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 299 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its position in EQT by 13.0% during the third quarter. UniSuper Management Pty Ltd now owns 2,600 shares of the oil and gas producer’s stock worth $106,000 after buying an additional 300 shares during the last quarter. Hedge funds and other 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.