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

EQT (NYSE:EQT - Get Free Report) had its target price increased by Mizuho from $39.00 to $40.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Mizuho's target price suggests a potential upside of 10.50% from the stock's previous close.

Several other brokerages have also weighed in on EQT. Sanford C. Bernstein upgraded EQT from an "underperform" rating to a "market perform" rating and lifted their price target for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. StockNews.com upgraded EQT to a "sell" rating in a research report on Tuesday, March 12th. Scotiabank upgraded EQT from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $40.00 to $52.00 in a research report on Thursday, April 11th. Truist Financial dropped their price target on EQT from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Friday, April 5th. Finally, Jefferies Financial Group upped their price objective on EQT from $42.00 to $43.00 and gave the company a "buy" rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $44.20.

EQT Stock Performance

Shares of EQT stock traded down $0.32 on Tuesday, hitting $36.20. The company had a trading volume of 4,831,668 shares, compared to its average volume of 6,448,669. The firm has a market cap of $15.94 billion, a P/E ratio of 8.52 and a beta of 1.12. The company has a 50-day moving average price of $35.81 and a 200-day moving average price of $38.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT has a twelve month low of $30.84 and a twelve month high of $45.23.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.58 billion. EQT had a return on equity of 7.12% and a net margin of 25.12%. The company's revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, equities research analysts predict that EQT will post 1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EQT

Several large investors have recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new position in EQT in the first quarter valued at $126,000. Fifth Third Wealth Advisors LLC purchased a new position in EQT in the first quarter valued at $330,000. Hennessy Advisors Inc. grew its holdings in shares of EQT by 8.4% during the first quarter. Hennessy Advisors Inc. now owns 649,500 shares of the oil and gas producer's stock worth $24,077,000 after purchasing an additional 50,600 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of EQT by 3.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,034 shares of the oil and gas producer's stock worth $1,002,000 after purchasing an additional 932 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of EQT during the first quarter worth about $102,000. 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.