EQT (NYSE:EQT) Price Target Raised to $49.00

EQT (NYSE:EQT) had its target price upped by Morgan Stanley from $37.00 to $49.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s target price indicates a potential upside of 35.30% from the company’s current price.

Several other research firms have also recently issued reports on EQT. Scotiabank raised EQT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. Wells Fargo & Company lowered shares of EQT from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $48.00 to $37.00 in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of EQT in a research note on Tuesday, March 5th. StockNews.com upgraded EQT to a “sell” rating in a research note on Tuesday, March 12th. Finally, Mizuho upped their price objective on EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT has an average rating of “Hold” and a consensus target price of $43.80.

EQT Stock Performance

Shares of EQT opened at $36.22 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $35.88 and its 200-day moving average price is $38.08. EQT has a 52 week low of $30.84 and a 52 week high of $45.23. The stock has a market cap of $15.95 billion, a P/E ratio of 8.52 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 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 firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that EQT will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Wealth Management Group LLC bought a new position in shares of EQT in the 4th quarter valued at about $30,000. Laurel Wealth Advisors LLC bought a new position in shares of EQT in the 2nd quarter valued at about $33,000. Tyler Stone Wealth Management bought a new position in shares of EQT in the 2nd quarter valued at about $40,000. Clearstead Advisors LLC bought a new position in shares of EQT in the 3rd quarter valued at about $41,000. Finally, BKM Wealth Management LLC bought a new stake in EQT in the fourth quarter worth about $40,000. 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.