Mizuho Upgrades EQT (NYSE:EQT) to “Outperform”

EQT (NYSE:EQT) was upgraded by investment analysts at Mizuho from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $57.00 price target on the oil and gas producer’s stock, up from their prior price target of $48.00. Mizuho’s target price suggests a potential upside of 28.96% from the stock’s current price.

EQT has been the subject of several other research reports. Piper Sandler raised their target price on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Sanford C. Bernstein assumed coverage on EQT in a research note on Friday, December 6th. They set a “market perform” rating and a $50.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research report on Tuesday, December 3rd. UBS Group raised their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company upped their price objective on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.61.

EQT Trading Down 1.4 %

NYSE:EQT opened at $44.20 on Monday. The stock has a fifty day simple moving average of $41.29 and a 200 day simple moving average of $37.46. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $26.37 billion, a price-to-earnings ratio of 52.62 and a beta of 1.14. EQT has a 1-year low of $30.02 and a 1-year high of $48.02.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Sell-side analysts forecast that EQT will post 1.37 earnings per share for the current year.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EQT. Wellington Management Group LLP increased its position in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. State Street Corp grew its position in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after purchasing an additional 464,781 shares during the period. Modera Wealth Management LLC acquired a new position in shares of EQT during the third quarter valued at about $562,494,000. Finally, Geode Capital Management LLC lifted its stake in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares during the period. 90.81% of the stock is owned by institutional investors.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.