Commerce Bank Raises Stock Position in EQT Co. (NYSE:EQT)

Commerce Bank raised its stake in shares of EQT Co. (NYSE:EQT) by 4.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 42,331 shares of the oil and gas producer’s stock after buying an additional 1,967 shares during the quarter. Commerce Bank’s holdings in EQT were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HM Payson & Co. purchased a new stake in EQT during the third quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of EQT in the 2nd quarter worth approximately $28,000. Hexagon Capital Partners LLC lifted its stake in shares of EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the period. Blue Trust Inc. grew its position in EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares during the period. Finally, Wolff Wiese Magana LLC increased its holdings in EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 908 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Bank of America started coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. raised their price objective on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. BMO Capital Markets boosted their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Price Performance

Shares of EQT stock opened at $45.92 on Friday. 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 Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The stock has a 50 day moving average of $38.20 and a 200 day moving average of $36.98. The firm has a market cap of $27.40 billion, a PE ratio of 54.67 and a beta of 1.06.

EQT (NYSE:EQT) last issued its quarterly earnings data 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 business had revenue of $1.28 billion during 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 business’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. On average, research analysts expect that EQT Co. will post 1.35 EPS for the current fiscal year.

EQT Dividend Announcement

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