ELCO Management Co. LLC Increases Stock Holdings in EQT Co. (NYSE:EQT)

ELCO Management Co. LLC boosted its stake in EQT Co. (NYSE:EQT) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,500 shares of the oil and gas producer’s stock after acquiring an additional 2,600 shares during the period. ELCO Management Co. LLC’s holdings in EQT were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EQT. Corient Private Wealth LLC increased its position in shares of EQT by 8.8% during the fourth quarter. Corient Private Wealth LLC now owns 92,021 shares of the oil and gas producer’s stock valued at $3,558,000 after buying an additional 7,413 shares during the period. Assetmark Inc. raised its position in shares of EQT by 38.2% in the 4th quarter. Assetmark Inc. now owns 14,840 shares of the oil and gas producer’s stock worth $574,000 after acquiring an additional 4,103 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of EQT by 32.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 61,955 shares of the oil and gas producer’s stock valued at $2,395,000 after purchasing an additional 15,104 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in EQT by 12.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 104,721 shares of the oil and gas producer’s stock worth $4,049,000 after purchasing an additional 11,441 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in EQT by 7.1% in the fourth quarter. Hsbc Holdings PLC now owns 481,811 shares of the oil and gas producer’s stock worth $18,656,000 after purchasing an additional 31,900 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQT. Wolfe Research started coverage on shares of EQT in a research report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 target price on the stock. Citigroup reaffirmed a “neutral” rating and set a $37.00 target price on shares of EQT in a research note on Friday, August 23rd. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. UBS Group reduced their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group boosted their target price on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.28.

EQT Trading Down 0.9 %

NYSE:EQT opened at $35.65 on Wednesday. The company has a 50 day simple moving average of $33.26 and a two-hundred day simple moving average of $36.41. The company has a market cap of $15.74 billion, a PE ratio of 25.83 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT Co. has a 12 month low of $30.02 and a 12 month high of $45.23.

EQT (NYSE:EQT) last issued 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 company 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 company posted ($0.17) earnings per share. EQT’s revenue was down 6.5% compared to the same quarter last year. Research analysts forecast that EQT Co. will post 1.37 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

EQT Company 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.