Caprock Group LLC Invests $223,000 in EQT Co. (NYSE:EQT)

Caprock Group LLC bought a new stake in shares of EQT Co. (NYSE:EQT) in the third quarter, Holdings Channel reports. The institutional investor bought 6,098 shares of the oil and gas producer’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Modera Wealth Management LLC bought a new position in EQT during the third quarter valued at $562,494,000. Canoe Financial LP bought a new position in shares of EQT in the 3rd quarter valued at about $89,907,000. Merewether Investment Management LP purchased a new position in EQT in the second quarter worth about $69,452,000. Boston Partners increased its stake in EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after acquiring an additional 966,475 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in EQT by 1,138.0% during 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 purchasing an additional 820,794 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Down 2.1 %

NYSE:EQT opened at $45.92 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $27.40 billion, a PE ratio of 54.67 and a beta of 1.06. The company has a 50-day moving average of $38.20 and a 200 day moving average of $36.96. EQT Co. has a 1-year low of $30.02 and a 1-year high of $48.02.

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 analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that EQT Co. will post 1.35 EPS for the current fiscal year.

EQT Announces Dividend

The company 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 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 1.37%. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 target price on shares of EQT in a research note on Friday, September 13th. UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets raised their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Citigroup raised EQT from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.