Stock analysts at Morgan Stanley began coverage on shares of EQT Corp. (NYSE:EQT) in a report issued on Thursday, Analyst Ratings Network.com reports. The firm set an “overweight” rating and a $100.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 18.68% from the stock’s previous close.
The analysts wrote, “Investors pay only for next year’s growth: EQT trades in line with the group on 2015e EBITDA. We see a higher probability that the growth outlook improves than that it is unchanged. EQT will grow at 20-30% annually for 5-10 years, by our estimate, driving a discounted valuation by 2016. Trades at a 2x multiple discount (2014e EV/EBITDA) vs. its Marcellus-focused peers despite a similar growth profile (3-year CAGR 30% vs. peers at 34%). One of the most shareholder-friendly management teams in the industry; continuously seeks ways to increase shareholder value.”
EQT Corp. (NYSE: EQT) traded down 1.67% on Thursday, hitting $82.855. EQT Corp. has a 1-year low of $52.69 and a 1-year high of $84.70. The stock’s 50-day moving average is currently $80.. The company has a market cap of $12.464 billion and a price-to-earnings ratio of 60.14.
EQT Corp. (NYSE:EQT) last announced its earnings results on Thursday, April 25th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $558.66 million for the quarter, compared to the consensus estimate of $442.88 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, analysts predict that EQT Corp. will post $2.43 earnings per share for the current fiscal year.
A number of other firms have also recently commented on EQT. Analysts at Brean Capital reiterated a “buy” rating on shares of EQT Corp. in a research note to investors on Tuesday, June 18th. They now have a $97.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of EQT Corp. in a research note to investors on Thursday, June 6th. They now have a $100.00 price target on the stock.
Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $81.50.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, September 1st. Shareholders of record on Friday, August 16th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Wednesday, August 14th.
EQT Corporation (NYSE: EQT) conducts its business through three business segments: EQT Production, EQT Midstream and Distribution.