EQT (NYSE:EQT) Raised to Outperform at Mizuho

Mizuho upgraded shares of EQT (NYSE:EQT) from a neutral rating to an outperform rating in a research report released on Monday morning, MarketBeat.com reports. Mizuho currently has $57.00 target price on the oil and gas producer’s stock, up from their previous target price of $48.00.

A number of other brokerages have also recently weighed in on EQT. UBS Group boosted their price target on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Piper Sandler boosted their price objective on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Truist Financial raised their target price on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Finally, Citigroup upped their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.61.

EQT Stock Performance

Shares of EQT stock opened at $42.54 on Monday. The firm has a market cap of $25.38 billion, a P/E ratio of 50.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The stock’s 50-day moving average is $41.41 and its two-hundred day moving average is $37.50.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. Analysts predict that EQT will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.48%. EQT’s dividend payout ratio is currently 75.00%.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

A number of institutional investors and hedge funds have recently bought and sold shares of EQT. Wealth Enhancement Advisory Services LLC grew its holdings in EQT by 8.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,243 shares of the oil and gas producer’s stock worth $1,081,000 after acquiring an additional 2,209 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of EQT by 4.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 938,133 shares of the oil and gas producer’s stock valued at $34,692,000 after purchasing an additional 41,531 shares in the last quarter. Raymond James & Associates raised its position in EQT by 16.4% in the 2nd quarter. Raymond James & Associates now owns 739,589 shares of the oil and gas producer’s stock worth $27,350,000 after purchasing an additional 104,059 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in EQT by 5.3% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 241,327 shares of the oil and gas producer’s stock worth $8,924,000 after buying an additional 12,179 shares in the last quarter. Institutional investors and hedge funds 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.