Procyon Advisors LLC Has $875,000 Holdings in EQT Co. (NYSE:EQT)

Procyon Advisors LLC lifted its stake in EQT Co. (NYSE:EQT) by 41.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,872 shares of the oil and gas producer’s stock after buying an additional 6,946 shares during the period. Procyon Advisors LLC’s holdings in EQT were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EQT. Cetera Investment Advisers acquired a new stake in EQT during the 1st quarter valued at $2,274,000. Vanguard Group Inc. increased its holdings in EQT by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after purchasing an additional 2,023,222 shares in the last quarter. UniSuper Management Pty Ltd increased its holdings in EQT by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 24,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in EQT by 17.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock valued at $17,374,000 after purchasing an additional 70,325 shares in the last quarter. Finally, Swedbank AB acquired a new stake in EQT during the 1st quarter valued at $4,073,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EQT. BMO Capital Markets raised their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $43.00 to $32.00 in a research note on Thursday, August 15th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 target price on shares of EQT in a research note on Friday, September 13th. Finally, Wolfe Research assumed coverage on EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $42.18.

EQT Stock Performance

EQT stock opened at $36.28 on Wednesday. The business’s 50-day moving average price is $34.03 and its two-hundred day moving average price is $36.62. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $16.02 billion, a PE ratio of 26.29 and a beta of 1.06. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. The firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. As a group, research analysts forecast that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio is 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.