Peregrine Capital Management LLC Grows Stock Holdings in EQT Co. (NYSE:EQT)

Peregrine Capital Management LLC lifted its stake in shares of EQT Co. (NYSE:EQT) by 10,010.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,297 shares of the oil and gas producer’s stock after acquiring an additional 27,027 shares during the quarter. Peregrine Capital Management LLC’s holdings in EQT were worth $1,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its position in 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 valued at $2,405,007,000 after purchasing an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of 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. Bank of New York Mellon Corp raised its holdings in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Wellington Management Group LLP lifted its stake in EQT by 3.2% in the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after acquiring an additional 632,625 shares during the period. Finally, Capital World Investors grew its holdings in EQT by 1.5% during the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock worth $673,678,000 after acquiring an additional 265,297 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock opened at $33.51 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The business has a fifty day moving average of $34.48 and a 200 day moving average of $36.73. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 24.28 and a beta of 1.12. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue was down 6.5% compared to the same quarter last year. As a group, research analysts expect that EQT Co. will post 1.4 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, August 7th. EQT’s payout ratio is 45.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. BMO Capital Markets upped their target price on EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Citigroup reiterated a “neutral” rating and issued a $37.00 price target on shares of EQT in a report on Friday, August 23rd. Mizuho upped their price objective on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, Truist Financial cut their target price 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.67.

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.