EQT Co. (NYSE:EQT) Shares Acquired by Covestor Ltd

Covestor Ltd increased its position in shares of EQT Co. (NYSE:EQT) by 437.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,856 shares of the oil and gas producer’s stock after buying an additional 2,325 shares during the period. Covestor Ltd’s holdings in EQT were worth $105,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in shares of EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares during the period. Vanguard Group Inc. grew its holdings in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after purchasing an additional 3,942,802 shares during the period. Bank of New York Mellon Corp increased its position in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after buying an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new position in shares of EQT during the 3rd quarter valued at approximately $562,494,000. Finally, Clearbridge Investments LLC grew its stake in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after acquiring an additional 253,186 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

EQT has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Wolfe Research started coverage on EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price objective on the stock. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $42.83.

EQT Stock Performance

NYSE:EQT opened at $43.78 on Wednesday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $44.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50 day moving average price of $36.07 and a 200 day moving average price of $36.69. The stock has a market capitalization of $26.12 billion, a P/E ratio of 52.12 and a beta of 1.06.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS 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 analyst estimates of $1.35 billion. During the same period last year, the business posted $0.30 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that EQT Co. will post 1.34 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.44%. EQT’s dividend payout ratio is presently 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.