Mizuho Upgrades EQT (NYSE:EQT) to “Outperform”

EQT (NYSE:EQT) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $57.00 price objective on the oil and gas producer’s stock, up from their prior price objective of $48.00. Mizuho’s price target would indicate a potential upside of 25.03% from the company’s previous close.

Other equities analysts have also issued reports about the company. Stephens boosted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler upped their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Citigroup lifted their target price on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.61.

EQT Stock Down 0.6 %

Shares of EQT stock opened at $45.59 on Monday. The stock has a 50 day moving average of $41.00 and a 200-day moving average of $37.41. The firm has a market cap of $27.20 billion, a PE ratio of 54.27 and a beta of 1.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a 12 month low of $30.02 and a 12 month high of $48.02.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $0.30 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that EQT will post 1.37 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.63% of the company’s stock.

Institutional Trading of EQT

Hedge funds have recently modified their holdings of the company. FMR LLC increased its stake in EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after purchasing an additional 28,129 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of EQT by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock valued at $183,678,000 after buying an additional 1,108,134 shares in the last quarter. Geode Capital Management LLC raised its stake in EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the period. Swiss National Bank grew its stake in EQT by 35.3% in the third quarter. Swiss National Bank now owns 1,677,261 shares of the oil and gas producer’s stock valued at $61,455,000 after acquiring an additional 437,602 shares during the period. Finally, Castle Hook Partners LP acquired a new stake in shares of EQT during the third quarter worth about $48,817,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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.