Huntington National Bank Acquires 1,013 Shares of EQT Co. (NYSE:EQT)

Huntington National Bank boosted its holdings in shares of EQT Co. (NYSE:EQT) by 50.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,041 shares of the oil and gas producer’s stock after acquiring an additional 1,013 shares during the quarter. Huntington National Bank’s holdings in EQT were worth $111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQT. HM Payson & Co. bought a new stake in shares of EQT in the third quarter worth $25,000. Innealta Capital LLC acquired a new position in EQT during the 2nd quarter worth about $28,000. Hexagon Capital Partners LLC grew its position 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 valued at $33,000 after buying an additional 904 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in shares of EQT by 936.1% in 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 period. Finally, Blue Trust Inc. raised its position in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 598 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

EQT opened at $42.71 on Monday. EQT Co. has a 1-year low of $30.02 and a 1-year high of $44.28. The company has a market cap of $25.48 billion, a price-to-earnings ratio of 50.85 and a beta of 1.06. The company’s fifty day moving average price is $36.91 and its two-hundred day moving average price is $36.79. 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 (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. On average, analysts expect that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.48%. EQT’s payout ratio is 75.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on EQT. Piper Sandler increased their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Stephens upped their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research report on Wednesday, August 14th. Finally, BMO Capital Markets upped their target price on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

About EQT

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.