EQT (NYSE:EQT) Given New $41.00 Price Target at Mizuho

EQT (NYSE:EQT) had its price objective decreased by Mizuho from $43.00 to $41.00 in a research note published on Friday, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas producer’s stock.

Other equities analysts have also issued reports about the stock. Citigroup raised shares of EQT from a neutral rating to a buy rating and lifted their price objective for the company from $37.00 to $44.00 in a report on Thursday. Stephens cut their price objective on shares of EQT from $47.00 to $46.00 and set an equal weight rating on the stock in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They issued an outperform rating and a $51.00 price target on the stock. Morgan Stanley reaffirmed an overweight rating and issued a $45.00 price target on shares of EQT in a report on Friday, September 13th. Finally, Truist Financial cut their price target on shares of EQT from $36.00 to $32.00 and set a hold rating on the stock in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, EQT currently has a consensus rating of Moderate Buy and a consensus price target of $42.18.

EQT Trading Down 1.9 %

Shares of EQT stock traded down $0.73 on Friday, hitting $36.94. 10,143,018 shares of the company traded hands, compared to its average volume of 7,146,616. The stock’s 50 day moving average price is $33.46 and its 200-day moving average price is $36.51. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT has a 52 week low of $30.02 and a 52 week high of $45.23. The company has a market cap of $16.31 billion, a PE ratio of 26.77 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly 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 net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. Equities research analysts predict that EQT will post 1.37 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.71%. EQT’s dividend payout ratio (DPR) is currently 45.65%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares in the last quarter. Third Point LLC purchased a new stake in shares of EQT during the fourth quarter worth about $75,387,000. Merewether Investment Management LP purchased a new stake in shares of EQT during the second quarter worth about $69,452,000. Finally, Boston Partners increased its stake in shares of EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after purchasing an additional 966,475 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.