EQT (NYSE:EQT) Price Target Cut to $47.00 by Analysts at Mizuho

EQT (NYSE:EQT) had its price target decreased by Mizuho from $52.00 to $47.00 in a research report report published on Monday, Marketbeat Ratings reports. Mizuho currently has a buy rating on the oil and gas producer’s stock.

A number of other brokerages have also issued reports on EQT. UBS Group cut their price target on EQT from $51.00 to $50.00 and set a neutral rating for the company in a research note on Thursday, August 31st. JPMorgan Chase & Co. cut their price objective on EQT from $45.00 to $44.00 in a research report on Wednesday, June 28th. Morgan Stanley boosted their price objective on EQT from $36.00 to $37.00 and gave the stock an overweight rating in a research note on Friday, August 18th. Tudor Pickering raised EQT from a hold rating to a buy rating in a research note on Tuesday, June 20th. Finally, Scotiabank cut EQT from a sector outperform rating to a sector perform rating in a research note on Wednesday, September 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $49.71.

EQT Price Performance

Shares of EQT stock opened at $41.19 on Monday. EQT has a one year low of $28.10 and a one year high of $48.07. The stock’s fifty day moving average is $41.90 and its 200 day moving average is $37.23. The stock has a market cap of $14.90 billion, a P/E ratio of 4.63, a P/E/G ratio of 1.10 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.11.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.09. EQT had a return on equity of 10.61% and a net margin of 38.44%. The business had revenue of $993.08 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $0.83 EPS. EQT’s revenue for the quarter was down 38.4% compared to the same quarter last year. Sell-side analysts anticipate that EQT will post 2.01 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.46%. EQT’s dividend payout ratio is currently 6.75%.

Insider Transactions at EQT

In other news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $41.40, for a total transaction of $828,000,000.00. Following the completion of the sale, the insider now owns 23,946,108 shares in the company, valued at approximately $991,368,871.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Institutional Trading of EQT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Andesa Financial Management Inc. acquired a new stake in shares of EQT during the 1st quarter worth approximately $356,000. Capital Advisors Ltd. LLC increased its holdings in EQT by 10,257.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 725 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 718 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in EQT in the 2nd quarter valued at approximately $33,000. Laurel Wealth Advisors LLC acquired a new stake in EQT in the 2nd quarter valued at approximately $33,000. Finally, Ahrens Investment Partners LLC acquired a new stake in EQT in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 99.44% of the company’s stock.

About EQT

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.