US Bancorp DE raised its position in EQT Co. (NYSE:EQT – Free Report) by 20.6% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 28,785 shares of the oil and gas producer’s stock after acquiring an additional 4,925 shares during the period. US Bancorp DE’s holdings in EQT were worth $919,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in EQT. Raymond James Financial Services Advisors Inc. grew its position in EQT by 12.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 3,541 shares in the last quarter. Acadian Asset Management LLC bought a new position in EQT in the first quarter valued at approximately $96,000. Great West Life Assurance Co. Can increased its position in shares of EQT by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock worth $5,891,000 after purchasing an additional 12,466 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of EQT in the 1st quarter valued at approximately $539,000. Finally, Blair William & Co. IL acquired a new stake in EQT in the 1st quarter valued at about $329,000. 92.95% of the stock is owned by institutional investors.
EQT Trading Down 2.6 %
Shares of EQT stock opened at $43.40 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.11. EQT Co. has a fifty-two week low of $28.10 and a fifty-two week high of $51.97. The company has a market cap of $15.70 billion, a PE ratio of 4.88, a P/E/G ratio of 1.07 and a beta of 1.22. The stock’s fifty day moving average price is $40.87 and its two-hundred day moving average price is $35.77.
EQT (NYSE:EQT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.09. EQT had a net margin of 38.44% and a return on equity of 10.61%. The company had revenue of $993.08 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $0.83 EPS. The firm’s quarterly revenue was down 38.4% compared to the same quarter last year. Equities analysts predict that EQT Co. will post 2.09 EPS for the current fiscal year.
EQT Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Wednesday, August 9th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, August 8th. EQT’s dividend payout ratio (DPR) is 6.75%.
Insider Buying and Selling
In other news, CAO Todd James sold 31,170 shares of EQT stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $38.56, for a total transaction of $1,201,915.20. Following the sale, the chief accounting officer now directly owns 39,392 shares of the company’s stock, valued at $1,518,955.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on EQT shares. Truist Financial boosted their price target on EQT from $34.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 17th. Tudor Pickering raised EQT from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Wells Fargo & Company upped their price objective on shares of EQT from $39.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, June 30th. UBS Group raised their target price on shares of EQT from $39.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Finally, Jefferies Financial Group upped their price target on shares of EQT from $46.00 to $49.00 in a research note on Friday, July 7th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.71.
View Our Latest Analysis on EQT
About EQT
EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.
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