Rhumbline Advisers Buys 55,384 Shares of EQT Co. (NYSE:EQT)

Rhumbline Advisers increased its stake in shares of EQT Co. (NYSE:EQT) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 840,339 shares of the oil and gas producer’s stock after acquiring an additional 55,384 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of EQT worth $31,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of EQT. Price T Rowe Associates Inc. MD grew its holdings in shares of EQT by 22.7% in 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 purchasing an additional 11,993,729 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in EQT by 27.9% in the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after acquiring an additional 4,339,407 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 valued at $1,885,590,000 after acquiring an additional 3,942,802 shares during the period. Boston Partners raised its stake in shares of EQT by 4,680.4% during the fourth quarter. Boston Partners now owns 2,868,030 shares of the oil and gas producer’s stock valued at $110,854,000 after acquiring an additional 2,808,034 shares during the last quarter. Finally, Third Point LLC purchased a new stake in shares of EQT during the fourth quarter worth about $75,387,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQT has been the topic of a number of research analyst reports. Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $43.00 to $32.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. upgraded EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a report on Tuesday, July 23rd. BMO Capital Markets lifted their price target on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Finally, Jefferies Financial Group lifted their target price on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.35.

EQT Stock Down 1.4 %

EQT stock opened at $32.35 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $33.98 and a 200 day moving average of $36.69. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23. The firm has a market cap of $14.29 billion, a PE ratio of 23.44 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned ($0.17) EPS. EQT’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts forecast that EQT Co. will post 1.43 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Wednesday, August 7th. EQT’s payout ratio is 45.65%.

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.