EQT (NYSE:EQT) Upgraded by Mizuho to Outperform Rating

Mizuho upgraded shares of EQT (NYSE:EQT) from a neutral rating to an outperform rating in a research report sent to investors on Monday, MarketBeat reports. The brokerage 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 analysts have also issued reports on the company. Wells Fargo & Company raised their price target on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Morgan Stanley raised their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Truist Financial boosted their target price on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Bank of America initiated coverage on shares of EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.61.

EQT Stock Performance

NYSE EQT opened at $44.83 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The business has a fifty day moving average of $41.15 and a 200-day moving average of $37.44. The stock has a market cap of $26.75 billion, a price-to-earnings ratio of 53.36 and a beta of 1.14.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts predict that EQT will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is 75.00%.

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On EQT

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT in the 3rd quarter valued at about $562,494,000. State Street Corp lifted its position in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC grew its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in EQT in the third quarter valued at about $97,979,000. 90.81% of the stock is currently owned by hedge funds and other 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.