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

EQT (NYSE:EQT) had its price objective raised by Morgan Stanley from $37.00 to $49.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

A number of other research analysts have also recently commented on the company. Truist Financial reduced their target price on EQT from $37.00 to $35.00 and set a hold rating on the stock in a research note on Friday, April 5th. Jefferies Financial Group raised their price objective on EQT from $42.00 to $43.00 and gave the company a buy rating in a research note on Friday, April 5th. Sanford C. Bernstein raised EQT from an underperform rating to a market perform rating and raised their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Piper Sandler raised their price objective on EQT from $45.00 to $47.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price objective on shares of EQT in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $43.80.

EQT Trading Down 0.5 %

Shares of EQT stock opened at $36.03 on Wednesday. The company’s fifty day simple moving average is $35.85 and its two-hundred day simple moving average is $38.09. 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 has a 1 year low of $30.84 and a 1 year high of $45.23. The stock has a market capitalization of $15.87 billion, a price-to-earnings ratio of 8.48 and a beta of 1.12.

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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, analysts anticipate that EQT will post 1.4 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.75%. EQT’s payout ratio is 14.82%.

Hedge Funds Weigh In On EQT

Several large investors have recently made changes to their positions in EQT. Price T Rowe Associates Inc. MD increased its position in shares of EQT by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock valued at $2,044,484,000 after acquiring an additional 3,159,700 shares in the last quarter. Vanguard Group Inc. increased its position in shares of EQT by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after acquiring an additional 2,023,222 shares in the last quarter. Wellington Management Group LLP increased its position in shares of EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after acquiring an additional 632,625 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of EQT by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares in the last quarter. Finally, Capital World Investors increased its position in shares of EQT by 1.5% during the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.