Townsquare Capital LLC Purchases 5,593 Shares of EQT Co. (NYSE:EQT)

Townsquare Capital LLC boosted its holdings in EQT Co. (NYSE:EQT) by 69.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,640 shares of the oil and gas producer’s stock after buying an additional 5,593 shares during the quarter. Townsquare Capital LLC’s holdings in EQT were worth $500,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Modera Wealth Management LLC acquired a new stake in shares of EQT during the 3rd quarter valued at $562,494,000. Canoe Financial LP bought a new stake in shares of EQT in the 3rd quarter valued at $89,907,000. Merewether Investment Management LP acquired a new stake in shares of EQT during the second quarter worth $69,452,000. Charles Schwab Investment Management Inc. raised its stake in EQT by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after buying an additional 1,108,134 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in EQT by 1,138.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 892,919 shares of the oil and gas producer’s stock valued at $32,717,000 after buying an additional 820,794 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock opened at $44.72 on Thursday. The company has a market cap of $26.68 billion, a PE ratio of 53.24 and a beta of 1.14. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The business has a 50 day moving average price of $39.90 and a 200-day moving average price of $37.26. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last issued its quarterly earnings data 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. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. Equities analysts anticipate that EQT Co. will post 1.36 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.41%. EQT’s dividend payout ratio (DPR) is 75.00%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. Stephens boosted their target price 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. BMO Capital Markets boosted their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Mizuho boosted their target price on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.83.

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.