Ferguson Wellman Capital Management Inc. Buys Shares of 40,863 EQT Co. (NYSE:EQT)

Ferguson Wellman Capital Management Inc. bought a new stake in shares of EQT Co. (NYSE:EQT) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 40,863 shares of the oil and gas producer’s stock, valued at approximately $435,000.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in EQT by 158.6% during the 2nd quarter. Invesco Ltd. now owns 742,207 shares of the oil and gas producer’s stock valued at $11,734,000 after purchasing an additional 455,236 shares during the period. Dynamic Capital Management Ltd acquired a new stake in shares of EQT in the 2nd quarter worth approximately $255,000. M&T Bank Corp lifted its stake in shares of EQT by 17.1% in the 2nd quarter. M&T Bank Corp now owns 12,936 shares of the oil and gas producer’s stock worth $206,000 after acquiring an additional 1,885 shares during the period. Toronto Dominion Bank acquired a new stake in shares of EQT in the 2nd quarter worth approximately $231,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of EQT in the 2nd quarter worth approximately $649,000. 97.04% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:EQT opened at $9.56 on Thursday. The company has a 50 day moving average of $10.70 and a 200-day moving average of $15.56. The firm has a market cap of $2.43 billion, a P/E ratio of 4.61, a P/E/G ratio of 1.07 and a beta of 0.64. EQT Co. has a twelve month low of $9.06 and a twelve month high of $26.05. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.

EQT (NYSE:EQT) last released its earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. The business had revenue of $958.40 million for the quarter, compared to the consensus estimate of $929.86 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities research analysts forecast that EQT Co. will post 0.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 8th will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.26%. EQT’s payout ratio is currently 7.06%.

EQT has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of EQT from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, July 26th. Wells Fargo & Co reduced their price target on shares of EQT from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. TD Securities reduced their price target on shares of EQT from $17.50 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Finally, ValuEngine raised shares of EQT from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.70.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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