Morgan Stanley Cuts EQT (EQT) Price Target to $55.00

EQT (NYSE:EQT) had its price objective reduced by Morgan Stanley from $67.00 to $55.00 in a research note released on Friday. Morgan Stanley currently has an equal weight rating on the oil and gas producer’s stock.

Several other analysts have also issued reports on EQT. BMO Capital Markets restated a buy rating and issued a $75.00 target price on shares of EQT in a research note on Tuesday, December 26th. ValuEngine lowered EQT from a hold rating to a sell rating in a research note on Sunday, December 31st. Zacks Investment Research lowered EQT from a hold rating to a sell rating in a research note on Tuesday, January 9th. Citigroup restated a buy rating and issued a $79.00 target price on shares of EQT in a research note on Monday, January 22nd. Finally, Jefferies Group set a $65.00 target price on EQT and gave the company a hold rating in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $75.85.

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Shares of EQT opened at $47.36 on Friday. The firm has a market capitalization of $12,525.44, a price-to-earnings ratio of 32.22, a PEG ratio of 1.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.94 and a current ratio of 0.94. EQT has a 1 year low of $43.70 and a 1 year high of $67.84.

EQT (NYSE:EQT) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.54. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $909.42 million. EQT had a return on equity of 2.35% and a net margin of 44.66%. The business’s revenue was up 197.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. research analysts anticipate that EQT will post 1.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 11th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, May 10th. EQT’s dividend payout ratio (DPR) is presently 8.16%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of EQT by 29.7% in the fourth quarter. BlackRock Inc. now owns 18,616,806 shares of the oil and gas producer’s stock valued at $1,059,671,000 after purchasing an additional 4,265,536 shares in the last quarter. Share Andrew L. purchased a new position in shares of EQT in the fourth quarter valued at $580,007,000. Wedge Capital Management L L P NC grew its position in shares of EQT by 27.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,797,012 shares of the oil and gas producer’s stock valued at $216,126,000 after purchasing an additional 820,493 shares in the last quarter. Aristotle Capital Management LLC grew its position in shares of EQT by 3.7% in the fourth quarter. Aristotle Capital Management LLC now owns 3,676,212 shares of the oil and gas producer’s stock valued at $209,250,000 after purchasing an additional 132,571 shares in the last quarter. Finally, NWQ Investment Management Company LLC grew its position in shares of EQT by 45.6% in the fourth quarter. NWQ Investment Management Company LLC now owns 2,665,792 shares of the oil and gas producer’s stock valued at $151,737,000 after purchasing an additional 834,827 shares in the last quarter. Institutional investors own 91.48% of the company’s stock.

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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.

Analyst Recommendations for EQT (NYSE:EQT)

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