EQT Corporation (EQT) Price Target Increased to $64.00 by Analysts at Morgan Stanley
EQT Corporation (NYSE:EQT) had its price objective raised by Morgan Stanley from $60.00 to $64.00 in a research note published on Wednesday morning. The firm currently has an equal weight rating on the oil and gas producer’s stock.
Other analysts also recently issued reports about the company. Scotiabank set a $77.00 price objective on EQT Corporation and gave the company a hold rating in a report on Saturday, July 1st. TheStreet upgraded EQT Corporation from a d+ rating to a c- rating in a report on Monday, August 14th. BMO Capital Markets set a $70.00 price objective on EQT Corporation and gave the company a buy rating in a report on Friday, July 28th. Royal Bank Of Canada restated a hold rating and issued a $78.00 price objective on shares of EQT Corporation in a report on Thursday, July 20th. Finally, KLR Group restated a buy rating and issued a $102.00 price objective (up from $101.00) on shares of EQT Corporation in a report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $79.82.
EQT Corporation (NYSE EQT) opened at 63.35 on Wednesday. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of 2262.50 and a beta of 0.77. The company has a 50 day moving average of $63.60 and a 200 day moving average of $60.66. EQT Corporation has a 52 week low of $49.63 and a 52 week high of $75.74.
EQT Corporation (NYSE:EQT) last released its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $631.10 million during the quarter, compared to the consensus estimate of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The firm’s quarterly revenue was up 720.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) earnings per share. On average, equities analysts forecast that EQT Corporation will post $0.92 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. EQT Corporation’s dividend payout ratio is presently 400.13%.
In other news, Director A. Bray Jr. Cary bought 406 shares of EQT Corporation stock in a transaction on Monday, October 2nd. The stock was acquired at an average cost of $65.24 per share, for a total transaction of $26,487.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd bought a new position in EQT Corporation in the first quarter worth about $110,000. Invictus RG bought a new position in EQT Corporation in the first quarter worth about $119,000. Aureus Asset Management LLC bought a new position in EQT Corporation in the second quarter worth about $205,000. Pinebridge Investments L.P. bought a new position in EQT Corporation in the second quarter worth about $212,000. Finally, OppenheimerFunds Inc. bought a new position in EQT Corporation in the first quarter worth about $218,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
About EQT Corporation
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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