Mizuho Lowers EQT (NYSE:EQT) Price Target to $41.00

EQT (NYSE:EQT) had its price objective decreased by equities research analysts at Mizuho from $43.00 to $41.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective indicates a potential upside of 10.99% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Scotiabank raised their price objective on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Stephens lowered their target price on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. Finally, Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.18.

EQT Price Performance

Shares of EQT stock opened at $36.94 on Friday. The stock’s 50-day moving average is $33.46 and its 200 day moving average is $36.53. EQT has a 1-year low of $30.02 and a 1-year high of $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $16.31 billion, a P/E ratio of 26.77 and a beta of 1.06.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The firm had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. Research analysts predict that EQT will post 1.37 earnings per share for the current fiscal year.

Institutional Trading of EQT

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in shares of EQT by 3.6% in the fourth quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after acquiring an additional 18,804 shares during the period. Tower Research Capital LLC TRC grew its holdings in EQT by 421.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock valued at $2,509,000 after purchasing an additional 52,443 shares during the period. Cibc World Markets Corp increased its position in shares of EQT by 162.4% in the fourth quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock valued at $2,025,000 after buying an additional 32,409 shares in the last quarter. Third Point LLC acquired a new position in shares of EQT during the 4th quarter worth approximately $75,387,000. Finally, Cetera Investment Advisers purchased a new position in shares of EQT during the 1st quarter valued at approximately $2,274,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

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.