Pathstone Holdings LLC Raises Stake in EQT Co. (NYSE:EQT)

Pathstone Holdings LLC increased its position in shares of EQT Co. (NYSE:EQT) by 33.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,051 shares of the oil and gas producer’s stock after acquiring an additional 19,013 shares during the quarter. Pathstone Holdings LLC’s holdings in EQT were worth $2,750,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Modera Wealth Management LLC acquired a new stake in shares of EQT during the third quarter worth $562,494,000. Canoe Financial LP acquired a new stake in EQT in the 3rd quarter worth about $89,907,000. Merewether Investment Management LP purchased a new stake in EQT in the 2nd quarter valued at about $69,452,000. Boston Partners increased its stake in shares of EQT by 33.7% during the 1st quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock valued at $142,178,000 after acquiring an additional 966,475 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of EQT by 1,138.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 892,919 shares of the oil and gas producer’s stock worth $32,717,000 after acquiring an additional 820,794 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EQT shares. BMO Capital Markets upped their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America assumed coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. Stephens lifted their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday. Finally, UBS Group increased their target price on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

EQT Stock Up 0.1 %

Shares of NYSE EQT opened at $45.95 on Tuesday. The firm has a market cap of $27.42 billion, a price-to-earnings ratio of 54.70 and a beta of 1.06. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02. 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 stock’s 50-day simple moving average is $38.45 and its 200-day simple moving average is $37.00.

EQT (NYSE:EQT) last posted 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 the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.30 EPS. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that EQT Co. will post 1.35 earnings per share for the current fiscal year.

EQT Announces Dividend

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