EQT (NYSE:EQT) Price Target Raised to $60.00 at Mizuho

EQT (NYSE:EQT) had its price objective lifted by equities research analysts at Mizuho from $57.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s target price would indicate a potential upside of 12.10% from the stock’s current price.

EQT has been the topic of several other research reports. StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 15th. UBS Group boosted their price objective on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Wells Fargo & Company increased their price objective on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group upped their price target on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.28.

EQT Stock Performance

EQT stock opened at $53.52 on Tuesday. EQT has a 52-week low of $30.02 and a 52-week high of $56.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a fifty day moving average price of $51.39 and a two-hundred day moving average price of $45.16. The firm has a market capitalization of $31.98 billion, a P/E ratio of 133.81, a P/E/G ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, analysts anticipate that EQT will post 3.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQT. Wellington Management Group LLP raised its position in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. Vanguard Group Inc. raised its holdings in EQT by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after buying an additional 358,649 shares during the period. State Street Corp raised its holdings in EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted its stake in EQT by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock valued at $663,552,000 after buying an additional 429,733 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of EQT by 21.3% in the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after buying an additional 2,433,632 shares during the period. 90.81% of the stock is currently 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.