EQT (NYSE:EQT) Stock Rating Reaffirmed by Morgan Stanley

EQT (NYSE:EQT)‘s stock had its “overweight” rating reissued by stock analysts at Morgan Stanley in a research report issued on Friday, Benzinga reports. They presently have a $45.00 price objective on the oil and gas producer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 36.94% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Friday, July 26th. Scotiabank increased their price target on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their price target on shares of EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup reiterated a “neutral” rating and set a $37.00 price target on shares of EQT in a research report on Friday, August 23rd. Finally, Wolfe Research assumed coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.82.

EQT Stock Down 0.1 %

EQT stock opened at $32.86 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $33.62 and its 200 day moving average is $36.58. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 23.81 and a beta of 1.06. EQT has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) earnings per share. Sell-side analysts predict that EQT will post 1.44 EPS for the current fiscal year.

Hedge Funds Weigh In On EQT

A number of institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. raised its holdings in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after purchasing an additional 464,781 shares in the last quarter. Wellington Management Group LLP raised its holdings in EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares in the last quarter. Finally, Capital World Investors raised its holdings in EQT by 1.5% in the fourth quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after purchasing an additional 265,297 shares in the last quarter. 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.