Mizuho Issues Positive Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price target raised by equities researchers at Mizuho from $45.00 to $48.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective indicates a potential upside of 6.50% from the company’s previous close.

Several other equities analysts have also recently issued reports on EQT. Truist Financial raised their price objective on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley increased their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company lifted their target price on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Stock Down 2.0 %

Shares of EQT stock traded down $0.92 during trading on Tuesday, reaching $45.07. The company had a trading volume of 2,666,136 shares, compared to its average volume of 7,182,373. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The firm’s fifty day moving average is $38.45 and its 200-day moving average is $37.00. The company has a market cap of $26.89 billion, a price-to-earnings ratio of 53.46 and a beta of 1.06.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. On average, analysts anticipate that EQT will post 1.35 EPS for the current year.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Davis Investment Partners LLC boosted its holdings in EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after buying an additional 317 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of EQT by 3.0% during the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after acquiring an additional 419 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of EQT by 7.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 421 shares during the last quarter. SeaBridge Investment Advisors LLC raised its position in shares of EQT by 1.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock worth $1,139,000 after purchasing an additional 431 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of EQT by 40.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 434 shares during the last quarter. 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.