EQT Price Target Raised by Mizuho

EQT (NYSE:EQT – Free Report) saw its price target increase from $45.00 to $48.00, according to a report published by Mizuho on Tuesday, as noted by Benzinga. Mizuho has currently assigned a neutral rating to this oil and gas producer’s stock.

Recent analyst reports from other firms have also highlighted changes in EQT's stock projections. For instance, Morgan Stanley recently raised its price target from $45.00 to $56.00 and categorized the stock as "overweight" in a note released on Monday. Similarly, Piper Sandler increased its price target for EQT from $32.00 to $34.00, continuing with a neutral outlook, as noted in their report on November 4th. On October 30th, Stephens adjusted its price objective for EQT from $37.00 to $38.00, accompanying this with an equal weight rating. Additionally, Citigroup made noteworthy shifts by upgrading EQT from a neutral position to a buy rating, bumping its target price from $37.00 to $44.00 on October 3rd. UBS Group also raised its target from $40.00 to $42.00 while maintaining a neutral stance on November 4th. Overall, one analyst has issued a sell rating, seven hold ratings, and eleven buy ratings on the stock. According to MarketBeat, EQT holds a consensus rating of "Moderate Buy" with an average target price of $44.67.

EQT Price Performance

On Tuesday, shares of NYSE:EQT began trading at $45.28. The stock boasts a 50-day moving average price of $39.14 and a 200-day moving average price of $37.16. EQT’s market capitalization sits at approximately $27.02 billion, and it reports a price-to-earnings ratio of 53.91, with a beta of 1.06. Within the past year, EQT has recorded a low of $30.02 and a high of $48.02.

EQT announced its quarterly earnings on October 29th, reporting earnings per share (EPS) of $0.12, which exceeded the consensus estimate of $0.06 by $0.06. The revenues for the quarter were recorded at $1.28 billion, slightly under the analysts' expectations of $1.35 billion. The company also showcased a return on equity of 3.74% alongside a net margin of 5.52%. Year-on-year, the revenue indicates an increase of 8.2%, although this reflects a decline in EPS from $0.30 during the same period the previous year. Analysts forecast EQT will achieve EPS of 1.38 for the current fiscal year.

EQT Announces Dividend

Moreover, EQT has declared a quarterly dividend, scheduled for payment on December 2nd. Shareholders as of November 6th will receive a dividend of $0.1575 per share. The ex-dividend date is also set for November 6th. This dividend represents an annualized total of $0.63, yielding around 1.39%. The payout ratio is 75.00%.

Institutional Movements

Institutional investors have been active around EQT's shares. Wellington Management Group LLP enhanced its holdings by 38.7% in the third quarter, now owning 74,153,050 shares valued at approximately $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 million during the same period. Further, State Street Corp increased its stake by 24.5% and now owns 37,095,597 shares valued at about $1.36 billion. Geode Capital Management LLC also grew its EQT position by 34.4%, owning roughly 13,997,574 shares worth approximately $511 million. Additionally, Holocene Advisors LP entered a new stake in EQT valued at $97.98 million. Currently, 90.81% of EQT's shares are held by institutional investors.

About EQT

EQT Corporation is a natural gas production company based in the United States, focused on selling natural gas and natural gas liquids to various customers including marketers, utilities, and industrial clients through pipelines concentrated in the Appalachian Basin. The company also provides marketing services and manages contractual pipeline capacities.

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