EQT (NYSE:EQT) Given New $56.00 Price Target at Morgan Stanley

EQT (NYSE:EQT - Get Free Report) 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 indicate a potential upside of 21.87% from the stock's current price.

EQT has been the topic of a number of other reports. Wells Fargo & Company raised shares of EQT from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. BMO Capital Markets lifted their target price on shares of EQT from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. Stephens increased their price target on EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on EQT from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $44.00.

EQT Stock Up 0.1 %

EQT stock traded up $0.03 during mid-day trading on Monday, reaching $45.95. 20,758,403 shares of the company traded hands, compared to its average volume of 7,204,359. 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 firm's 50 day moving average price is $38.20 and its 200 day moving average price is $36.96. The stock has a market cap of $27.42 billion, a price-to-earnings ratio of 55.70 and a beta of 1.06. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02.

EQT (NYSE:EQT - Get Free Report) last announced 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. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. EQT's quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that EQT will post 1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new position in shares of EQT in the third quarter worth $25,000. Innealta Capital LLC bought a new position in EQT in the 2nd quarter worth about $28,000. Truvestments Capital LLC purchased a new stake in shares of EQT in the 3rd quarter valued at about $30,000. Hexagon Capital Partners LLC boosted its position in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock valued at $33,000 after acquiring an additional 904 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

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.