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EQT (EQT) Received its Third Buy in a Row

After Citigroup and RBC Capital gave EQT (NYSE: EQT) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Devin McDermott maintained a Buy rating on EQT today and set a price target of $48.00. The company’s shares closed last Tuesday at $38.70.

According to TipRanks.com, McDermott is a 5-star analyst with an average return of 8.4% and a 56.0% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Continental Resources, and Occidental Petroleum.

EQT has an analyst consensus of Strong Buy, with a price target consensus of $51.86, a 38.1% upside from current levels. In a report issued on July 6, RBC Capital also maintained a Buy rating on the stock with a $55.00 price target.

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Based on EQT’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.5 billion and GAAP net loss of $1.52 billion. In comparison, last year the company earned revenue of $1.14 billion and had a GAAP net loss of $37.43 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

EQT Corp. engages in natural gas production, gathering, and transmission in the Appalachian area. The EQT Production segment focuses on the exploration, development and production of natural gas, natural gas liquids and crude oil. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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