Morgan Stanley Boosts EQT Corporation (EQT) Price Target to $64.00

EQT Corporation (NYSE:EQT) had its price target upped by Morgan Stanley from $60.00 to $64.00 in a research report report published on Wednesday. Morgan Stanley currently has an equal weight rating on the oil and gas producer’s stock.

A number of other analysts have also recently weighed in on EQT. BMO Capital Markets upgraded EQT Corporation from a market perform rating to an outperform rating and set a $70.00 price target on the stock in a research report on Tuesday, June 20th. KLR Group reiterated a buy rating and issued a $102.00 price target (up from $92.00) on shares of EQT Corporation in a research report on Monday, June 26th. Scotiabank set a $77.00 price target on EQT Corporation and gave the company a hold rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a hold rating and issued a $69.00 price target on shares of EQT Corporation in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada cut EQT Corporation from an outperform rating to a sector perform rating and lowered their price target for the company from $86.00 to $80.00 in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. EQT Corporation has a consensus rating of Buy and a consensus target price of $79.82.

EQT Corporation (NYSE EQT) traded up 0.46% during midday trading on Wednesday, reaching $63.35. The company’s stock had a trading volume of 1,979,713 shares. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74. The firm has a 50 day moving average price of $63.60 and a 200 day moving average price of $60.66. The firm has a market capitalization of $10.98 billion, a PE ratio of 2262.50 and a beta of 0.77.

EQT Corporation (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The firm had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The business’s revenue was up 720.1% compared to the same quarter last year. On average, analysts predict that EQT Corporation will post $0.92 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, November 9th. EQT Corporation’s payout ratio is presently 400.13%.

In other EQT Corporation news, Director A. Bray Jr. Cary bought 406 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were bought at an average price of $65.24 per share, for a total transaction of $26,487.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its stake in shares of EQT Corporation by 6.4% during the second quarter. IFP Advisors Inc now owns 4,108 shares of the oil and gas producer’s stock valued at $241,000 after acquiring an additional 247 shares during the period. D.A. Davidson & CO. lifted its stake in shares of EQT Corporation by 14.2% during the second quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock valued at $339,000 after acquiring an additional 721 shares during the period. Amalgamated Bank lifted its stake in shares of EQT Corporation by 8.9% during the first quarter. Amalgamated Bank now owns 10,685 shares of the oil and gas producer’s stock valued at $653,000 after acquiring an additional 869 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of EQT Corporation by 3.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 36,634 shares of the oil and gas producer’s stock valued at $2,146,000 after acquiring

A number of other analysts have also recently weighed in on EQT. BMO Capital Markets upgraded EQT Corporation from a market perform rating to an outperform rating and set a $70.00 price target on the stock in a research report on Tuesday, June 20th. KLR Group reiterated a buy rating and issued a $102.00 price target (up from $92.00) on shares of EQT Corporation in a research report on Monday, June 26th. Scotiabank set a $77.00 price target on EQT Corporation and gave the company a hold rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a hold rating and issued a $69.00 price target on shares of EQT Corporation in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada cut EQT Corporation from an outperform rating to a sector perform rating and lowered their price target for the company from $86.00 to $80.00 in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. EQT Corporation has a consensus rating of Buy and a consensus target price of $79.82.

EQT Corporation (NYSE EQT) traded up 0.46% during midday trading on Wednesday, reaching $63.35. The company’s stock had a trading volume of 1,979,713 shares. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $75.74. The firm has a 50 day moving average price of $63.60 and a 200 day moving average price of $60.66. The firm has a market capitalization of $10.98 billion, a PE ratio of 2262.50 and a beta of 0.77.

EQT Corporation (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The firm had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $642.21 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The business’s revenue was up 720.1% compared to the same quarter last year. On average, analysts predict that EQT Corporation will post $0.92 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Thursday, November 9th. EQT Corporation’s payout ratio is presently 400.13%.

In other EQT Corporation news, Director A. Bray Jr. Cary bought 406 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were bought at an average price of $65.24 per share, for a total transaction of $26,487.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its stake in shares of EQT Corporation by 6.4% during the second quarter. IFP Advisors Inc now owns 4,108 shares of the oil and gas producer’s stock valued at $241,000 after acquiring an additional 247 shares during the period. D.A. Davidson & CO. lifted its stake in shares of EQT Corporation by 14.2% during the second quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock valued at $339,000 after acquiring an additional 721 shares during the period. Amalgamated Bank lifted its stake in shares of EQT Corporation by 8.9% during the first quarter. Amalgamated Bank now owns 10,685 shares of the oil and gas producer’s stock valued at $653,000 after acquiring an additional 869 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of EQT Corporation by 3.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 36,634 shares of the oil and gas producer’s stock valued at $2,146,000 after acquiring an additional 1,188 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new position in shares of EQT Corporation during the first quarter valued at $110,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

About EQT Corporation

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

Analyst Recommendations for EQT Corporation (NYSE:EQT)

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