EQT (NYSE:EQT) Price Target Lowered to $43.00 at Mizuho

EQT (NYSE:EQT) had its target price trimmed by Mizuho from $45.00 to $43.00 in a research report released on Monday, Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

A number of other research firms have also weighed in on EQT. Truist Financial cut their target price on shares of EQT from $36.00 to $32.00 and set a hold rating for the company in a research report on Monday, July 22nd. Stephens decreased their target price on EQT from $47.00 to $46.00 and set an equal weight rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price target on EQT from $42.00 to $37.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Morgan Stanley reissued an overweight rating and issued a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. Finally, Citigroup reiterated a neutral rating and set a $37.00 target price on shares of EQT in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has an average rating of Hold and a consensus price target of $43.28.

EQT Price Performance

Shares of NYSE:EQT opened at $34.73 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $15.34 billion, a P/E ratio of 25.17 and a beta of 1.06. The business has a 50-day moving average of $33.33 and a two-hundred day moving average of $36.47. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $45.23.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. On average, equities research analysts predict that EQT will post 1.44 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EQT. Price T Rowe Associates Inc. MD increased its position in shares of EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EQT by 27.9% during the first quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after buying an additional 4,339,407 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Third Point LLC bought a new position in shares of EQT in the fourth quarter valued at approximately $75,387,000. Finally, Merewether Investment Management LP acquired a new position in shares of EQT in the 2nd quarter worth approximately $69,452,000. 90.81% of the stock is owned by 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.