EQT (NYSE:EQT) Price Target Raised to $56.00 at Morgan Stanley

EQT (NYSE:EQT) had its price objective upped by Morgan Stanley from $45.00 to $56.00 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the oil and gas producer’s stock.

Other analysts have also recently issued reports about the company. UBS Group increased their target price on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. BMO Capital Markets increased their target price on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

EQT Trading Up 0.1 %

EQT opened at $45.95 on Monday. The firm’s fifty day moving average is $38.45 and its two-hundred day moving average is $37.00. The firm has a market cap of $27.42 billion, a PE ratio of 54.70 and a beta of 1.06. EQT has a twelve month low of $30.02 and a twelve month high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts anticipate that EQT will post 1.35 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. Modera Wealth Management LLC bought a new position in shares of EQT during the 3rd quarter worth approximately $562,494,000. State Street Corp boosted its stake in shares of EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC increased its holdings in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. Finally, Holocene Advisors LP acquired a new stake in EQT during the 3rd quarter valued at $97,979,000. 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.