Prospera Financial Services Inc Buys 1,669 Shares of EQT Co. (NYSE:EQT)

Prospera Financial Services Inc increased its stake in shares of EQT Co. (NYSE:EQT) by 19.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,471 shares of the oil and gas producer’s stock after acquiring an additional 1,669 shares during the quarter. Prospera Financial Services Inc’s holdings in EQT were worth $384,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Cetera Investment Advisers bought a new position in shares of EQT during the 1st quarter valued at about $2,274,000. Swiss National Bank boosted its stake in EQT by 35.3% during the third quarter. Swiss National Bank now owns 1,677,261 shares of the oil and gas producer’s stock valued at $61,455,000 after buying an additional 437,602 shares during the last quarter. Swedbank AB purchased a new position in EQT during the 1st quarter valued at approximately $4,073,000. Virtu Financial LLC increased its stake in EQT by 184.3% in the 1st quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock worth $1,970,000 after acquiring an additional 34,446 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of EQT by 71.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock worth $7,883,000 after acquiring an additional 89,866 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of EQT stock opened at $45.92 on Monday. The company has a market capitalization of $27.40 billion, a P/E ratio of 54.67 and a beta of 1.06. The company’s 50-day simple moving average is $38.20 and its two-hundred day simple moving average is $36.96. EQT Co. has a one year low of $30.02 and a one year high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (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 company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. EQT’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that EQT Co. will post 1.35 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EQT. Piper Sandler boosted their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. BMO Capital Markets boosted their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

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.