Morgan Stanley Forecasts Strong Price Appreciation for EQT (NYSE:EQT) Stock

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

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets lifted their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Mizuho boosted their price objective on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Trading Down 0.9 %

EQT stock opened at $45.58 on Monday. The business has a fifty day moving average of $38.70 and a 200-day moving average of $37.05. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $27.20 billion, a P/E ratio of 54.26 and a beta of 1.06. EQT has a twelve month low of $30.02 and a twelve month high of $48.02.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EQT. Charles Schwab Investment Management Inc. increased its holdings in shares of EQT by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after purchasing an additional 1,108,134 shares during the period. Cetera Investment Advisers bought a new position in shares of EQT during the first quarter worth approximately $2,274,000. Swiss National Bank increased its holdings in shares of EQT by 35.3% during the third quarter. Swiss National Bank now owns 1,677,261 shares of the oil and gas producer’s stock worth $61,455,000 after purchasing an additional 437,602 shares during the period. Swedbank AB bought a new position in shares of EQT during the first quarter worth approximately $4,073,000. Finally, Virtu Financial LLC increased its stake in EQT by 184.3% in the first quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock valued at $1,970,000 after acquiring an additional 34,446 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

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.