EQT (NYSE:EQT) Coverage Initiated by Analysts at Mizuho

Equities research analysts at Mizuho assumed coverage on shares of EQT (NYSE:EQT) in a report released on Tuesday. The firm set an “outperform” rating and a $66.00 price target on the oil and gas producer’s stock. Mizuho’s target price would suggest a potential upside of 17.91% from the company’s previous close.

A number of other equities analysts have also weighed in on EQT. Wells Fargo & Company upped their target price on EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Piper Sandler boosted their price objective on shares of EQT from $35.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Citigroup upped their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Scotiabank reissued a “sector perform” rating and issued a $62.00 target price (up previously from $57.00) on shares of EQT in a report on Thursday, May 22nd. Finally, Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.65.

EQT Stock Down 0.3%

Shares of NYSE EQT opened at $55.97 on Tuesday. The firm has a market cap of $33.51 billion, a PE ratio of 98.11, a P/E/G ratio of 0.34 and a beta of 0.65. EQT has a 12-month low of $30.02 and a 12-month high of $61.02. The company’s fifty day simple moving average is $55.81 and its 200 day simple moving average is $52.21. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. As a group, sell-side analysts forecast that EQT will post 3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in shares of EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after purchasing an additional 4,162,065 shares during the period. Slate Path Capital LP acquired a new stake in shares of EQT during the 4th quarter valued at approximately $123,575,000. Castle Hook Partners LP raised its holdings in EQT by 199.5% during the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock worth $184,012,000 after purchasing an additional 2,658,375 shares during the last quarter. Capital International Investors raised its position in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after acquiring an additional 2,433,632 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of EQT in the first quarter worth $120,252,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

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.