Mizuho Boosts EQT (NYSE:EQT) Price Target to $43.00

EQT (NYSE:EQT) had its price objective upped by research analysts at Mizuho from $40.00 to $43.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective would suggest a potential upside of 6.41% from the stock’s previous close.

Several other equities research analysts also recently weighed in on EQT. Jefferies Financial Group increased their price objective on EQT from $42.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Stephens increased their target price on shares of EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered EQT from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.25.

EQT Stock Performance

Shares of EQT opened at $40.41 on Friday. The stock has a 50 day moving average price of $36.31 and a 200 day moving average price of $38.01. The company has a market capitalization of $17.80 billion, a price-to-earnings ratio of 29.28 and a beta of 1.12. EQT has a 52-week low of $30.84 and a 52-week high of $45.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a return on equity of 4.70% and a net margin of 10.96%. The business’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 EPS. Research analysts predict that EQT will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On EQT

A number of large investors have recently bought and sold shares of EQT. Price T Rowe Associates Inc. MD grew its holdings in shares of EQT by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock worth $2,044,484,000 after buying an additional 3,159,700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of EQT by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock worth $1,814,038,000 after acquiring an additional 2,023,222 shares during the last quarter. Wellington Management Group LLP increased its position in EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of EQT by 27.9% in 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 acquiring an additional 4,339,407 shares during the period. Finally, Capital World Investors lifted its holdings in shares of EQT by 1.5% during the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares in the last quarter. Institutional investors and hedge funds 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.