EQT (NYSE:EQT) PT Raised to $43.00

EQT (NYSE:EQT) had its price objective lifted by analysts at Mizuho from $40.00 to $43.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective points to a potential upside of 6.41% from the company’s previous close.

Several other research firms also recently issued reports on EQT. Stephens raised their price target on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of EQT in a research note on Tuesday, March 5th. Scotiabank raised shares of EQT from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $40.00 to $52.00 in a research note on Thursday, April 11th. Finally, TD Cowen began coverage on shares of EQT in a research note on Friday, April 19th. They issued a “hold” rating and a $43.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.25.

EQT Stock Performance

NYSE EQT opened at $40.41 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of 29.28 and a beta of 1.12. The firm’s 50 day simple moving average is $36.31 and its 200 day simple moving average is $38.01. EQT has a 1 year low of $30.84 and a 1 year high of $45.23.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.70%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $1.70 earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, research analysts expect that EQT will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Compound Global Advisors LLC raised its position in shares of EQT by 130.2% in the fourth quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer’s stock valued at $15,833,000 after purchasing an additional 231,651 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of EQT by 212.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock valued at $6,740,000 after purchasing an additional 118,482 shares during the period. Wedge Capital Management L L P NC raised its position in shares of EQT by 14.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 511,988 shares of the oil and gas producer’s stock valued at $19,793,000 after purchasing an additional 63,190 shares during the period. Vanguard Group Inc. raised its position in shares of EQT by 8.6% in the third quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after purchasing an additional 3,539,661 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of EQT by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after purchasing an additional 1,098,211 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

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.