Huntington National Bank Boosts Stake in EQT Co. (NYSE:EQT)

Huntington National Bank grew its position in shares of EQT Co. (NYSE:EQT) by 50.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,041 shares of the oil and gas producer’s stock after buying an additional 1,013 shares during the quarter. Huntington National Bank’s holdings in EQT were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQT. Modera Wealth Management LLC purchased a new position in EQT in the third quarter worth $562,494,000. Price T Rowe Associates Inc. MD raised its stake in shares of EQT by 22.7% during the 1st 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 purchasing an additional 11,993,729 shares during the period. Vanguard Group Inc. grew its position in EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the period. Canoe Financial LP bought a new position in EQT during the third quarter valued at about $89,907,000. Finally, Merewether Investment Management LP purchased a new stake in EQT during the second quarter worth about $69,452,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.3 %

Shares of NYSE:EQT opened at $42.71 on Monday. The firm has a fifty day moving average price of $36.91 and a two-hundred day moving average price of $36.79. The company has a market cap of $25.48 billion, a price-to-earnings ratio of 50.85 and a beta of 1.06. 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 Co. has a one year low of $30.02 and a one year high of $44.28.

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, beating 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 during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts anticipate that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced 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 1.48%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on EQT. Bank of America initiated coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. BMO Capital Markets boosted their target price on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Piper Sandler boosted their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Finally, Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.