AE Wealth Management LLC Purchases Shares of 6,213 EQT Co. (NYSE:EQT)

AE Wealth Management LLC acquired a new position in EQT Co. (NYSE:EQT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,213 shares of the oil and gas producer’s stock, valued at approximately $230,000.

A number of other large investors have also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado raised its position in shares of EQT by 19.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 43,636 shares of the oil and gas producer’s stock valued at $1,614,000 after purchasing an additional 7,139 shares during the period. Intech Investment Management LLC raised its holdings in EQT by 251.5% during the second quarter. Intech Investment Management LLC now owns 101,770 shares of the oil and gas producer’s stock valued at $3,763,000 after acquiring an additional 72,821 shares during the period. Goehring & Rozencwajg Associates LLC lifted its position in shares of EQT by 11.0% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 576,293 shares of the oil and gas producer’s stock valued at $21,311,000 after acquiring an additional 57,200 shares in the last quarter. Kentucky Retirement Systems boosted its stake in shares of EQT by 6.5% in the second quarter. Kentucky Retirement Systems now owns 33,277 shares of the oil and gas producer’s stock worth $1,231,000 after acquiring an additional 2,039 shares during the period. Finally, First Washington CORP grew its position in shares of EQT by 2.1% during the second quarter. First Washington CORP now owns 71,354 shares of the oil and gas producer’s stock worth $2,639,000 after purchasing an additional 1,439 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQT has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup reiterated a “neutral” rating and issued a $37.00 price target on shares of EQT in a report on Friday, August 23rd. Mizuho dropped their price objective on shares of EQT from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, EQT presently has a consensus rating of “Hold” and a consensus target price of $42.29.

EQT Stock Performance

NYSE EQT opened at $36.53 on Friday. The business’s 50 day moving average price is $33.27 and its 200-day moving average price is $36.41. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The company has a market cap of $16.13 billion, a P/E ratio of 26.47 and a beta of 1.06. 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 posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Sell-side analysts predict that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s payout ratio is currently 45.65%.

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.