Mizuho Increases EQT (NYSE:EQT) Price Target to $45.00

EQT (NYSE:EQT) had its target price hoisted by equities researchers at Mizuho from $41.00 to $45.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price target would indicate a potential upside of 11.94% from the company’s current price.

Several other brokerages have also recently issued reports on EQT. UBS Group lifted their target price on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday. Wolfe Research started coverage on EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. Finally, Scotiabank lifted their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Price Performance

NYSE:EQT opened at $40.20 on Tuesday. EQT has a 52 week low of $30.02 and a 52 week high of $42.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is $35.56 and its two-hundred day simple moving average is $36.64. The stock has a market cap of $17.75 billion, a PE ratio of 47.86 and a beta of 1.06.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, analysts forecast that EQT will post 1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. HM Payson & Co. bought a new stake in shares of EQT during the third quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of EQT during the second quarter valued at approximately $28,000. Hexagon Capital Partners LLC raised its stake in shares of EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares in the last quarter. Blue Trust Inc. raised its stake in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in shares of EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares in the last quarter. 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.