Mizuho Raises EQT (NYSE:EQT) Price Target to $40.00

EQT (NYSE:EQT) had its price objective increased by Mizuho from $39.00 to $40.00 in a research report sent to investors on Tuesday, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas producer’s stock.

A number of other equities analysts have also weighed in on EQT. Scotiabank upgraded EQT from a sector perform rating to a sector outperform rating and upped their target price for the stock from $40.00 to $52.00 in a research note on Thursday, April 11th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Truist Financial dropped their target price on shares of EQT from $37.00 to $35.00 and set a hold rating for the company in a research report on Friday, April 5th. The Goldman Sachs Group decreased their price target on shares of EQT from $48.00 to $43.00 and set a buy rating on the stock in a report on Tuesday, April 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of EQT from $42.00 to $43.00 and gave the stock a buy rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of Hold and a consensus price target of $43.38.

EQT Price Performance

EQT stock opened at $36.65 on Tuesday. The firm has a 50 day moving average of $35.92 and a 200-day moving average of $38.06. The firm has a market capitalization of $16.14 billion, a P/E ratio of 8.62 and a beta of 1.12. EQT has a 12 month low of $30.84 and a 12 month high of $45.23. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. As a group, sell-side analysts predict that EQT will post 1.4 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is presently 14.82%.

Hedge Funds Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in shares of EQT in the 4th quarter worth about $30,000. Laurel Wealth Advisors LLC bought a new position in shares of EQT during the second quarter valued at approximately $33,000. BKM Wealth Management LLC purchased a new position in shares of EQT during the fourth quarter valued at approximately $40,000. Belpointe Asset Management LLC boosted its position in shares of EQT by 270.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 918 shares in the last quarter. Finally, Tyler Stone Wealth Management purchased a new stake in shares of EQT in the 2nd quarter worth approximately $40,000. 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.