Clearline Capital LP Takes $4.87 Million Position in EQT Co. (NYSE:EQT)

Clearline Capital LP acquired a new position in EQT Co. (NYSE:EQT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 132,955 shares of the oil and gas producer’s stock, valued at approximately $4,871,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EQT. Davis Investment Partners LLC increased its stake in shares of EQT by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after acquiring an additional 317 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of EQT by 7.4% during the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after purchasing an additional 421 shares in the last quarter. SeaBridge Investment Advisors LLC lifted its holdings in shares of EQT by 1.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock valued at $1,139,000 after purchasing an additional 431 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of EQT by 40.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 434 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of EQT by 8.4% in the 2nd quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock worth $233,000 after buying an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT opened at $45.44 on Monday. The business has a 50-day simple moving average of $39.35 and a two-hundred day simple moving average of $37.15. 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 Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The stock has a market cap of $27.11 billion, a price-to-earnings ratio of 54.10 and a beta of 1.06.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. On average, analysts expect that EQT Co. will post 1.36 EPS for the current year.

EQT Dividend Announcement

The company 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. This represents a $0.63 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Analyst Upgrades and Downgrades

EQT has been the subject of several analyst reports. UBS Group raised their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Stephens increased their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Mizuho boosted their price objective on shares of EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Finally, Truist Financial upped their price objective on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.67.

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.