Hennion & Walsh Asset Management Inc. Buys New Shares in EQT Co. (NYSE:EQT)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of EQT Co. (NYSE:EQT) during the 3rd quarter, HoldingsChannel reports. The firm purchased 6,240 shares of the oil and gas producer’s stock, valued at approximately $229,000.

A number of other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after purchasing an additional 3,942,802 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after purchasing an additional 464,781 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after purchasing an additional 253,186 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in EQT by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,224,784 shares of the oil and gas producer’s stock valued at $156,243,000 after buying an additional 697,824 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

NYSE:EQT opened at $37.31 on Wednesday. The firm has a market cap of $16.48 billion, a price-to-earnings ratio of 27.04 and a beta of 1.06. 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 Co. has a 1-year low of $30.02 and a 1-year high of $45.23. The firm’s fifty day moving average price is $35.02 and its 200 day moving average price is $36.59.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is 45.65%.

Analysts Set New Price Targets

A number of analysts have issued reports on EQT shares. JPMorgan Chase & Co. lifted their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Stephens decreased 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 note on Wednesday, July 24th. Finally, Wolfe Research started coverage on EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.61.

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.