Concurrent Investment Advisors LLC Acquires 2,567 Shares of EQT Co. (NYSE:EQT)

Concurrent Investment Advisors LLC increased its holdings in shares of EQT Co. (NYSE:EQT) by 40.6% in the third quarter, Holdings Channel.com reports. The firm owned 8,891 shares of the oil and gas producer’s stock after purchasing an additional 2,567 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in EQT were worth $326,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Radnor Capital Management LLC boosted its holdings in shares of EQT by 71.3% in the third quarter. Radnor Capital Management LLC now owns 60,711 shares of the oil and gas producer’s stock valued at $2,224,000 after buying an additional 25,261 shares during the period. Crescent Grove Advisors LLC acquired a new position in EQT in the 3rd quarter worth $393,000. Sentry Investment Management LLC increased its holdings in EQT by 82.2% during the 3rd quarter. Sentry Investment Management LLC now owns 2,892 shares of the oil and gas producer’s stock worth $106,000 after purchasing an additional 1,305 shares in the last quarter. Central Bank & Trust Co. raised its stake in shares of EQT by 11.7% in the 3rd quarter. Central Bank & Trust Co. now owns 30,339 shares of the oil and gas producer’s stock valued at $1,112,000 after purchasing an additional 3,174 shares during the period. Finally, Gulf International Bank UK Ltd lifted its holdings in shares of EQT by 47.9% in the third quarter. Gulf International Bank UK Ltd now owns 45,124 shares of the oil and gas producer’s stock valued at $1,653,000 after purchasing an additional 14,611 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQT has been the subject of a number of research reports. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. Finally, UBS Group lifted 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $42.83.

EQT Stock Up 1.3 %

EQT stock opened at $41.22 on Monday. The company’s 50-day moving average price is $35.86 and its two-hundred day moving average price is $36.68. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $24.60 billion, a P/E ratio of 49.07 and a beta of 1.06. EQT Co. has a twelve month low of $30.02 and a twelve month high of $42.44.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts expect that EQT Co. will post 1.34 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend 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.