Morgan Stanley Lowers EQT (EQT) Price Target to $54.00

Share on StockTwits

EQT (NYSE:EQT) had its price objective trimmed by Morgan Stanley from $59.00 to $54.00 in a research report released on Thursday morning. The firm currently has an equal weight rating on the oil and gas producer’s stock.

EQT has been the subject of several other research reports. TheStreet upgraded EQT from a d+ rating to a c- rating in a report on Monday, July 23rd. ValuEngine lowered EQT from a hold rating to a sell rating in a report on Tuesday, June 26th. JPMorgan Chase & Co. set a $70.00 price objective on EQT and gave the company a buy rating in a report on Wednesday, June 13th. Royal Bank of Canada set a $74.00 price objective on EQT and gave the company a buy rating in a report on Thursday, July 19th. Finally, TD Securities initiated coverage on EQT in a report on Thursday, July 5th. They issued a hold rating and a $57.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $69.57.

Shares of EQT stock opened at $49.53 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.15 billion, a PE ratio of 33.69, a PEG ratio of 1.51 and a beta of 0.57. EQT has a fifty-two week low of $43.70 and a fifty-two week high of $66.03.

EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.13 billion. EQT had a positive return on equity of 3.73% and a negative net margin of 6.19%. The company’s revenue was up 53.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. equities analysts anticipate that EQT will post 2.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Friday, August 10th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, August 9th. EQT’s dividend payout ratio is 8.16%.

In other EQT news, insider Robert Joseph Mcnally purchased 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were purchased at an average cost of $51.18 per share, with a total value of $204,720.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Michael Burke purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were acquired at an average cost of $50.20 per share, for a total transaction of $251,000.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $251,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 9,385 shares of company stock valued at $476,964. 0.68% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of EQT. Piedmont Investment Advisors LLC acquired a new position in EQT during the second quarter valued at $163,000. Mount Yale Investment Advisors LLC acquired a new position in EQT during the first quarter valued at $191,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in EQT during the second quarter valued at $207,000. Dupont Capital Management Corp raised its position in EQT by 48.7% during the second quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 1,270 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in EQT during the second quarter valued at $222,000. 91.18% of the stock is currently owned by hedge funds and other institutional investors.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

Recommended Story: Stock Symbol

Analyst Recommendations for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply