EQT (NYSE:EQT) Given New $43.00 Price Target at Mizuho

EQT (NYSE:EQT) had its price target decreased by research analysts at Mizuho from $45.00 to $43.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s target price points to a potential upside of 29.25% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Wolfe Research assumed coverage on shares of EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Truist Financial lowered their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Stephens cut their target price on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Citigroup reiterated a “neutral” rating and set a $37.00 price target on shares of EQT in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.71.

EQT Stock Performance

EQT opened at $33.27 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $33.44 and its 200-day moving average is $36.50. The stock has a market cap of $14.69 billion, a PE ratio of 24.11 and a beta of 1.06. EQT has a twelve month low of $30.02 and a twelve month high of $45.23.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, analysts predict that EQT will post 1.44 earnings per share for the current year.

Institutional Trading of EQT

A number of hedge funds have recently modified their holdings of EQT. Price T Rowe Associates Inc. MD boosted its holdings in shares of EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of EQT by 27.9% during the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after buying an additional 4,339,407 shares during the period. Vanguard Group Inc. grew its holdings in shares of EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares in the last quarter. Third Point LLC acquired a new position in shares of EQT in the fourth quarter worth $75,387,000. Finally, Merewether Investment Management LP purchased a new stake in shares of EQT during the second quarter worth $69,452,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.