Morgan Stanley Has Lowered Expectations for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective decreased by investment analysts at Morgan Stanley from $74.00 to $68.00 in a research note issued on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective indicates a potential upside of 29.08% from the stock’s previous close.

EQT has been the topic of several other research reports. Stephens reduced their price objective on shares of EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Sanford C. Bernstein cut their price target on EQT from $73.00 to $69.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Jefferies Financial Group reiterated a “buy” rating on shares of EQT in a research note on Sunday, April 26th. Truist Financial dropped their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets dropped their price target on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $68.04.

EQT Trading Up 2.0%

Shares of EQT opened at $52.68 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. EQT has a 52-week low of $48.47 and a 52-week high of $68.24. The firm has a market cap of $32.95 billion, a price-to-earnings ratio of 10.00 and a beta of 0.55. The business’s fifty day moving average is $55.47 and its 200-day moving average is $56.99.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm posted $1.18 earnings per share. Equities analysts anticipate that EQT will post 4.52 EPS for the current fiscal year.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Toby Z. Rice sold 96,983 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $54.28, for a total value of $5,264,237.24. Following the completion of the transaction, the chief executive officer owned 2,334,924 shares in the company, valued at approximately $126,739,674.72. The trade was a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 102,830 shares of company stock worth $5,602,913. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of EQT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Greykasell Wealth Strategies Inc. bought a new position in EQT in the 4th quarter worth about $26,000. Aventura Private Wealth LLC purchased a new position in EQT during the 4th quarter valued at about $31,000. Fortitude Family Office LLC increased its position in shares of EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares during the period. Elyxium Wealth LLC bought a new stake in shares of EQT during the fourth quarter valued at about $49,000. Finally, Root Financial Partners LLC lifted its holdings in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after buying an additional 202 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.