Mutual of America Capital Management LLC Sells 91,370 Shares of EQT Co. (NYSE:EQT)

Mutual of America Capital Management LLC lowered its position in EQT Co. (NYSE:EQT) by 55.5% in the third quarter, HoldingsChannel.com reports. The fund owned 73,139 shares of the oil and gas producer’s stock after selling 91,370 shares during the quarter. Mutual of America Capital Management LLC’s holdings in EQT were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers bought a new position in EQT during the first quarter worth about $2,274,000. Swedbank AB bought a new position in shares of EQT during the 1st quarter worth approximately $4,073,000. Virtu Financial LLC increased its holdings in shares of EQT by 184.3% during the 1st quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock worth $1,970,000 after acquiring an additional 34,446 shares during the last quarter. Janney Montgomery Scott LLC raised its stake 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 acquiring an additional 89,866 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in EQT by 39.4% during the 3rd quarter. Principal Financial Group Inc. now owns 700,714 shares of the oil and gas producer’s stock valued at $25,674,000 after purchasing an additional 198,227 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on EQT. Bank of America initiated coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group upped their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley reissued an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. Finally, Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.83.

EQT Trading Down 2.1 %

Shares of EQT stock opened at $45.92 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The company has a market cap of $27.40 billion, a PE ratio of 54.67 and a beta of 1.06. The stock’s fifty day moving average price is $38.20 and its two-hundred day moving average price is $36.98.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. Equities analysts predict that EQT Co. will post 1.35 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.37%. The ex-dividend date is 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.