NBC Securities Inc. Acquires New Holdings in EQT Co. (NYSE:EQT)

NBC Securities Inc. bought a new stake in shares of EQT Co. (NYSE:EQT) in the third quarter, Holdings Channel.com reports. The fund bought 13,695 shares of the oil and gas producer’s stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in EQT. Innealta Capital LLC acquired a new stake in EQT during the 2nd quarter valued at approximately $28,000. Hexagon Capital Partners LLC increased its position in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the period. Wolff Wiese Magana LLC increased its position in EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 908 shares during the period. Blue Trust Inc. increased its position in EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares during the period. Finally, Rise Advisors LLC increased its position in EQT by 224.8% during the 3rd quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 717 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

EQT has been the subject of several recent analyst reports. Piper Sandler downgraded shares of EQT from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. UBS Group reduced their price objective on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Scotiabank raised their price objective on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. Stephens reduced their price objective on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, BMO Capital Markets raised their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.18.

EQT Price Performance

Shares of NYSE:EQT opened at $37.04 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $34.28 and its two-hundred day simple moving average is $36.62. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23. The stock has a market cap of $16.35 billion, a PE ratio of 26.84 and a beta of 1.06.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share 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 business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business earned ($0.17) EPS. The business’s revenue was down 6.5% on a year-over-year basis. As a group, analysts forecast that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio 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.