J.W. Cole Advisors Inc. Raises Stake in EQT Co. (NYSE:EQT)

J.W. Cole Advisors Inc. increased its stake in shares of EQT Co. (NYSE:EQT) by 7.4% during the third quarter, HoldingsChannel.com reports. The firm owned 6,121 shares of the oil and gas producer’s stock after buying an additional 421 shares during the period. J.W. Cole Advisors Inc.’s holdings in EQT were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT in the 3rd quarter valued at about $562,494,000. Finally, Clearbridge Investments LLC raised its holdings in shares of EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after acquiring an additional 253,186 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

EQT has been the topic of several recent analyst reports. Scotiabank raised their price target on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Truist Financial lowered their price target on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $32.00 in a report on Thursday, August 15th. Wolfe Research started coverage on EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $42.17.

EQT Price Performance

Shares of EQT stock opened at $35.62 on Friday. The firm has a market cap of $15.73 billion, a P/E ratio of 42.41 and a beta of 1.06. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The business’s 50 day moving average price is $35.24 and its 200-day moving average price is $36.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 4.08% and a net margin of 5.52%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. On average, equities research analysts anticipate that EQT Co. will post 1.42 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.77%. EQT’s dividend payout ratio is currently 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.