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

EQT (NYSE:EQT) had its target price lifted by stock analysts at Mizuho from $45.00 to $48.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s target price suggests a potential upside of 5.98% from the stock’s previous close.

EQT has been the subject of several other reports. Morgan Stanley upped their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group increased their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial lifted their price target on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.67.

EQT Stock Down 0.6 %

NYSE EQT opened at $45.29 on Tuesday. EQT has a one year low of $30.02 and a one year high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The business has a fifty day moving average price of $38.93 and a 200 day moving average price of $37.11. The company has a market cap of $27.02 billion, a P/E ratio of 53.92 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly 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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts anticipate that EQT will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On EQT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. State Street Corp increased its position in shares of 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 valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after purchasing an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT during the 3rd quarter worth $562,494,000. Finally, Geode Capital Management LLC grew its stake in shares of EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Company Profile

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.