Truist Financial Corp Increases Stock Holdings in EQT Co. (NYSE:EQT)

Truist Financial Corp lifted its stake in shares of EQT Co. (NYSE:EQT) by 18.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,399 shares of the oil and gas producer’s stock after buying an additional 3,261 shares during the period. Truist Financial Corp’s holdings in EQT were worth $791,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EQT. Creative Planning raised its stake in shares of EQT by 12.0% in the second quarter. Creative Planning now owns 51,655 shares of the oil and gas producer’s stock valued at $1,910,000 after buying an additional 5,542 shares during the period. Magnolia Capital Advisors LLC bought a new position in EQT during the 2nd quarter worth approximately $1,577,000. Susquehanna Fundamental Investments LLC bought a new position in EQT during the 2nd quarter worth approximately $17,666,000. Scientech Research LLC bought a new stake in shares of EQT in the 2nd quarter worth approximately $498,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of EQT by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,708,451 shares of the oil and gas producer’s stock valued at $63,179,000 after purchasing an additional 26,231 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on EQT. Citigroup raised EQT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Mizuho cut their price objective on EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, October 4th. BMO Capital Markets lifted their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Finally, Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.18.

EQT Stock Down 2.2 %

Shares of NYSE:EQT opened at $36.60 on Tuesday. EQT Co. has a 52-week low of $30.02 and a 52-week high of $45.23. The stock has a market cap of $16.16 billion, a P/E ratio of 26.52 and a beta of 1.06. The business’s 50 day moving average is $33.92 and its 200 day moving average is $36.62. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33.

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, beating 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 prior year, the business posted ($0.17) EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts predict that EQT Co. will post 1.37 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.72%. EQT’s dividend payout ratio (DPR) is 45.65%.

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.