Mizuho Issues Pessimistic Forecast for EQT (NYSE:EQT) Stock Price

EQT (NYSE:EQT) had its price objective dropped by investment analysts at Mizuho from $72.00 to $68.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price objective suggests a potential upside of 30.23% from the stock’s current price.

A number of other brokerages also recently weighed in on EQT. Wall Street Zen downgraded shares of EQT from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Stifel Nicolaus started coverage on shares of EQT in a research note on Wednesday, September 9th. They set a “buy” rating and a $66.00 price target on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Scotiabank assumed coverage on shares of EQT in a research report on Wednesday. They issued a “sector perform” rating and a $54.00 price objective for the company. Finally, Truist Financial dropped their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.68.

EQT Price Performance

EQT stock traded down $0.54 during trading hours on Thursday, hitting $52.22. 2,618,562 shares of the stock were exchanged, compared to its average volume of 8,153,376. The stock has a market capitalization of $32.66 billion, a P/E ratio of 12.12 and a beta of 0.66. The business’s 50-day moving average is $52.92 and its two-hundred day moving average is $54.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. EQT has a 12 month low of $47.94 and a 12 month high of $68.24.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The company’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. Equities research analysts expect that EQT will post 3.90 EPS for the current fiscal year.

Insider Buying and Selling

In other EQT news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the sale, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EQT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC boosted its position in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the last quarter. RFG Advisory LLC lifted its stake in EQT by 3.2% in the second quarter. RFG Advisory LLC now owns 7,033 shares of the oil and gas producer’s stock valued at $374,000 after buying an additional 216 shares during the period. Anchor Investment Management LLC lifted its stake in EQT by 76.0% in the second quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 228 shares during the period. EverSource Wealth Advisors LLC lifted its stake in EQT by 4.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after buying an additional 236 shares during the period. Finally, Cidel Asset Management Inc. increased its stake in shares of EQT by 6.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 4,014 shares of the oil and gas producer’s stock valued at $213,000 after acquiring an additional 249 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

About EQT

EQT Corporation is a natural gas producer headquartered in Pittsburgh, Pennsylvania. The company explores for, develops, and produces natural gas, natural gas liquids, and crude oil, with its operations concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations.

In addition to its upstream production activities, EQT has interests in the midstream infrastructure used to gather, process, transport, and store natural gas. These assets support the movement of production from well sites to regional and interstate markets.