TD Asset Management Inc Grows Position in EQT Co. (NYSE:EQT)

TD Asset Management Inc boosted its position in shares of EQT Co. (NYSE:EQT) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,234,975 shares of the oil and gas producer’s stock after acquiring an additional 48,027 shares during the quarter. TD Asset Management Inc’s holdings in EQT were worth $45,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQT. Park Avenue Securities LLC grew its holdings in shares of EQT by 3.8% in the first quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock worth $302,000 after purchasing an additional 300 shares during the last quarter. Czech National Bank lifted its stake in shares of EQT by 0.5% during the 1st quarter. Czech National Bank now owns 72,374 shares of the oil and gas producer’s stock worth $2,683,000 after purchasing an additional 332 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in EQT by 5.1% during the first quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock valued at $254,000 after purchasing an additional 336 shares in the last quarter. Hancock Whitney Corp grew its stake in EQT by 3.0% in the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock valued at $541,000 after purchasing an additional 419 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC raised its holdings in EQT by 1.4% in the first quarter. SeaBridge Investment Advisors LLC now owns 30,361 shares of the oil and gas producer’s stock worth $1,125,000 after purchasing an additional 428 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Trading Down 1.4 %

Shares of EQT stock opened at $32.35 on Friday. The stock has a market cap of $14.29 billion, a PE ratio of 23.44 and a beta of 1.12. The firm has a fifty day moving average price of $33.98 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 $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) 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 business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts predict that EQT Co. will post 1.43 earnings per share for the current year.

EQT Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EQT shares. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Scotiabank lifted their price target on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and decreased their price objective 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 on the stock in a research note on Tuesday, July 23rd. Finally, Truist Financial reduced their target price on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, EQT currently has an average rating of “Hold” and an average target price of $44.35.

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.