HITE Hedge Asset Management LLC Boosts Stake in EQT Co. (NYSE:EQT)

HITE Hedge Asset Management LLC boosted its holdings in shares of EQT Co. (NYSE:EQT) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,877 shares of the oil and gas producer’s stock after buying an additional 7,285 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in EQT were worth $5,565,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of EQT. Charles Schwab Investment Management Inc. lifted its holdings in EQT by 28.4% in the 3rd 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 in the last quarter. Cetera Investment Advisers acquired a new position in shares of EQT in the 1st quarter valued at about $2,274,000. Swiss National Bank raised its holdings in shares of EQT by 35.3% in the 3rd quarter. Swiss National Bank now owns 1,677,261 shares of the oil and gas producer’s stock worth $61,455,000 after purchasing an additional 437,602 shares in the last quarter. Castle Hook Partners LP acquired a new stake in EQT in the third quarter valued at approximately $48,817,000. Finally, Janney Montgomery Scott LLC increased its holdings in EQT by 71.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock valued at $7,883,000 after buying an additional 89,866 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EQT. Truist Financial raised their target price on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. UBS Group upped their price target on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company increased their price target on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

EQT Stock Down 2.0 %

EQT stock opened at $44.53 on Tuesday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $48.02. The stock has a market capitalization of $26.57 billion, a price-to-earnings ratio of 53.01 and a beta of 1.14. The stock has a 50 day moving average of $39.53 and a two-hundred day moving average of $37.18. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last issued its quarterly 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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts expect that EQT Co. will post 1.36 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, November 6th. EQT’s payout ratio is 75.00%.

EQT Company 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.