EQT (NYSE:EQT) Price Target Raised to $56.00

EQT (NYSE:EQT) had its target price raised by research analysts at Morgan Stanley from $45.00 to $56.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target would suggest a potential upside of 22.86% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Mizuho raised their target price on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Finally, Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Stock Performance

Shares of EQT stock opened at $45.58 on Monday. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $27.20 billion, a P/E ratio of 54.26 and a beta of 1.06. The company’s 50 day moving average price is $38.70 and its two-hundred day moving average price is $37.05.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $0.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that EQT will post 1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EQT

Several hedge funds and other institutional investors have recently made changes to their positions in EQT. Advisors Asset Management Inc. increased its position in shares of EQT by 14.1% during the first quarter. Advisors Asset Management Inc. now owns 36,165 shares of the oil and gas producer’s stock worth $1,341,000 after acquiring an additional 4,483 shares in the last quarter. Quadrature Capital Ltd purchased a new position in EQT during the first quarter worth about $796,000. Dynasty Wealth Management LLC purchased a new position in EQT during the first quarter worth about $201,000. B. Riley Wealth Advisors Inc. purchased a new position in EQT during the first quarter worth about $209,000. Finally, Hancock Whitney Corp boosted its holdings in EQT by 3.0% during the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after purchasing an additional 419 shares during the last quarter. 90.81% of the stock is owned by 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.