EQT (NYSE:EQT) Price Target Increased to $48.00 at Mizuho

EQT (NYSE:EQT – Free Report) saw its price target raised by Mizuho from $45.00 to $48.00 according to a report released on Tuesday. Mizuho currently holds a neutral rating on the stock of this prominent oil and gas producer.

In addition to Mizuho's analysis, several other equity analysts have provided updated insights on EQT's stock performance. For instance, Morgan Stanley raised their price target from $45.00 to $56.00 and assigned an ‘overweight’ rating in a research note issued on Monday. Similarly, Piper Sandler increased their price estimate from $32.00 to $34.00 and maintained a ‘neutral’ rating as of November 4. Another firm, Stephens, also adjusted their price target upward from $37.00 to $38.00 while holding an ‘equal weight’ rating back on October 30. Citigroup upgraded its rating on EQT from ‘neutral’ to ‘buy’ and raised their price target from $37.00 to $44.00 in a report dated October 3. Lastly, UBS Group raised their target price from $40.00 to $42.00 while maintaining a ‘neutral’ rating as of November 4. Overall, the consensus from analysts indicates that one has rated the stock as a sell, seven analysts have given it a hold rating, and eleven have marked it as a buy. MarketBeat reports that EQT now holds a consensus rating of ‘Moderate Buy’ with a consensus price target averaging $44.67.

EQT's Current Stock Performance

As of Tuesday, shares of EQT opened at $45.28. The stock's 50-day moving average stands at $39.14, while its 200-day moving average is $37.16. The company's financial metrics include a debt-to-equity ratio of 0.65, a current ratio of 0.51, and a quick ratio of 0.51. EQT has a market capitalization of approximately $27.02 billion, a price-to-earnings ratio of 53.91, and a beta of 1.06. Over the past year, the stock has recorded a low of $30.02 and a high of $48.02.

EQT's Quarterly Earnings and Dividend Announcement

EQT reported its quarterly earnings on October 29, revealing earnings per share of $0.12 for the quarter. This result surpassed the expected consensus of $0.06 by $0.06. Their revenue was reported at $1.28 billion, slightly lower than the analyst expectations of $1.35 billion. The company achieved a return on equity of 3.74% and a net margin of 5.52%, with revenue increasing by 8.2% year-over-year compared to the previous year’s results where it posted earnings of $0.30 per share. Analysts forecast that EQT will generate an earnings per share of $1.38 for the current fiscal year.

Recently, EQT has also declared a quarterly dividend set to be paid on December 2. Shareholders on record as of November 6 will receive a dividend of $0.1575 per share. The ex-dividend date is also November 6, translating to an annualized dividend of $0.63, which reflects a yield of 1.39%. EQT's dividend payout ratio stands at 75.00%.

Institutional Investments in EQT

Institutional investors and hedge funds have been active in buying and selling EQT stock recently. For example, Wellington Management Group LLP increased its holdings by 38.7% during the third quarter, now owning 74,153,050 shares valued at $2.72 billion after acquiring an additional 20,700,921 shares. Modera Wealth Management LLC entered a new position in EQT valued at around $562.49 million during the same quarter. Additionally, State Street Corp enhanced its stake by 24.5%, bringing their total shares to 37,095,597, worth approximately $1.36 billion after adding 7,290,822 shares. Geode Capital Management LLC also lifted its position by 34.4%, now holding 13,997,574 shares valued at $511.16 million. Holocene Advisors LP similarly acquired a new stake in EQT valued at $97.98 million. Overall, 90.81% of the company’s shares are owned by institutional investors.

About EQT Corporation

EQT Corporation serves as a natural gas production company in the United States. The company specializes in selling natural gas and natural gas liquids to marketers, utilities, and industrial customers through an extensive network of pipelines located in the Appalachian Basin. Additionally, EQT provides marketing services and manages pipeline capacity contracts.

EQT, Mizuho, target