Truvestments Capital LLC bought a new stake in shares of EQT Co. (NYSE:EQT – Free Report) in the third quarter, Holdings Channel reports. The fund bought 816 shares of the oil and gas producer’s stock, valued at approximately $30,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQT. Bank of New York Mellon Corp raised its position in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares during the period. Modera Wealth Management LLC acquired a new position in EQT in the 3rd quarter worth about $562,494,000. Clearbridge Investments LLC boosted its position in EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after purchasing an additional 253,186 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in EQT by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock valued at $183,678,000 after purchasing an additional 1,108,134 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of EQT by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,224,784 shares of the oil and gas producer’s stock valued at $156,243,000 after buying an additional 697,824 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Mizuho increased their target price on EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. Bank of America assumed coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company upped their price target on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Truist Financial lifted their price objective on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.
EQT Price Performance
EQT stock opened at $45.28 on Friday. EQT Co. has a 52-week low of $30.02 and a 52-week high of $48.02. The business has a fifty day moving average of $39.14 and a two-hundred day moving average of $37.16. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 53.91 and a beta of 1.06. 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 (NYSE:EQT – Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating 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 company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that EQT Co. will post 1.38 earnings per share for the current year.
EQT Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.39%. EQT’s dividend payout ratio (DPR) is presently 75.00%.
EQT Profile
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.
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