Covestor Ltd Grows Stock Position in EQT Co. (NYSE:EQT)

Covestor Ltd boosted its stake in shares of EQT Co. (NYSE:EQT) by 437.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,856 shares of the oil and gas producer’s stock after acquiring an additional 2,325 shares during the period. Covestor Ltd’s holdings in EQT were worth $105,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock worth $2,405,007,000 after buying an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. lifted its stake in EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT in the 3rd quarter valued at approximately $562,494,000. Finally, Clearbridge Investments LLC raised its holdings in shares of EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after purchasing an additional 253,186 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the topic of several recent analyst reports. Mizuho increased their target price on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price on the stock. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets upped their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Price Performance

Shares of NYSE EQT opened at $43.78 on Wednesday. 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 company has a market cap of $26.12 billion, a PE ratio of 52.12 and a beta of 1.06. The stock has a fifty day moving average price of $36.07 and a 200 day moving average price of $36.69. EQT Co. has a 1-year low of $30.02 and a 1-year high of $44.28.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Sell-side analysts forecast that EQT Co. will post 1.34 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.44%. EQT’s dividend payout ratio is currently 75.00%.

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.