Magnolia Capital Advisors LLC Takes $1.58 Million Position in EQT Co. (NYSE:EQT)

Magnolia Capital Advisors LLC purchased a new stake in EQT Co. (NYSE:EQT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 42,658 shares of the oil and gas producer’s stock, valued at approximately $1,577,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQT. Price T Rowe Associates Inc. MD grew its position in EQT by 22.7% during 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 buying an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. grew its position in 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 worth $1,885,590,000 after buying an additional 3,942,802 shares in the last quarter. Third Point LLC acquired a new stake in EQT during the fourth quarter worth about $75,387,000. Merewether Investment Management LP acquired a new stake in EQT during the second quarter worth about $69,452,000. Finally, Boston Partners grew its position in EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after buying an additional 966,475 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Up 2.9 %

NYSE:EQT opened at $36.53 on Monday. The stock’s fifty day moving average price is $33.27 and its two-hundred day moving average price is $36.44. EQT Co. has a 52-week low of $30.02 and a 52-week high of $45.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 26.47 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned ($0.17) EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, analysts anticipate that EQT Co. will post 1.37 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.72%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio is 45.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EQT shares. UBS Group decreased their target price on EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Jefferies Financial Group raised their price target on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Hold” and an average price target of $42.29.

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.