EQT (NYSE:EQT) Given New $43.00 Price Target at Mizuho

EQT (NYSE:EQT) had its price target raised by Mizuho from $40.00 to $43.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other analysts have also issued reports on the stock. Wells Fargo & Company lowered shares of EQT from an overweight rating to an equal weight rating and reduced their price objective for the company from $48.00 to $37.00 in a report on Wednesday, April 17th. Stephens lifted their target price on EQT from $46.00 to $47.00 and gave the company an equal weight rating in a research report on Wednesday. Morgan Stanley lifted their target price on EQT from $37.00 to $49.00 and gave the company an overweight rating in a research report on Wednesday, April 17th. Sanford C. Bernstein raised EQT from an underperform rating to a market perform rating and lifted their target price for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group dropped their target price on EQT from $48.00 to $43.00 and set a buy rating for the company in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, EQT currently has a consensus rating of Hold and an average target price of $44.25.

EQT Price Performance

Shares of NYSE:EQT opened at $40.61 on Friday. EQT has a twelve month low of $30.84 and a twelve month high of $45.23. The company’s 50 day moving average is $36.43 and its 200 day moving average is $37.99. The company has a current ratio of 0.88, a quick ratio of 0.99 and a debt-to-equity ratio of 0.32. The company has a market cap of $17.93 billion, a PE ratio of 29.43 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company earned $1.70 EPS. The business’s revenue was down 28.8% on a year-over-year basis. On average, sell-side analysts forecast that EQT will post 0.99 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders 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 yield of 1.55%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio is currently 45.65%.

Institutional Investors Weigh In On EQT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in shares of EQT during the fourth quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new stake in shares of EQT during the fourth quarter worth approximately $40,000. Principal Securities Inc. purchased a new stake in shares of EQT during the fourth quarter worth approximately $51,000. Allworth Financial LP raised its stake in shares of EQT by 26.9% during the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 282 shares during the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of EQT during the third quarter worth approximately $54,000. Hedge funds and other institutional investors 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.