Amalgamated Bank Has $4.80 Million Position in EQT Co. (NYSE:EQT)

Amalgamated Bank increased its position in shares of EQT Co. (NYSE:EQT) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,911 shares of the oil and gas producer’s stock after buying an additional 4,696 shares during the quarter. Amalgamated Bank’s holdings in EQT were worth $4,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of EQT by 22.7% during the 1st 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 purchasing an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. increased its holdings in 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 buying an additional 3,942,802 shares during the period. Bank of New York Mellon Corp raised its stake in shares of EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after buying an additional 464,781 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of EQT by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after acquiring an additional 632,625 shares during the period. Finally, Capital World Investors boosted its position in shares of EQT by 1.5% during the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on EQT shares. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Morgan Stanley restated an “overweight” rating and set a $45.00 target price on shares of EQT in a research report on Friday, September 13th. UBS Group lowered their price target on EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday. Citigroup reissued a “neutral” rating and set a $37.00 price objective on shares of EQT in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, EQT currently has a consensus rating of “Hold” and a consensus price target of $43.28.

EQT Price Performance

EQT opened at $34.83 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $15.38 billion, a P/E ratio of 25.24 and a beta of 1.06. The company’s 50 day simple moving average is $33.28 and its 200-day simple moving average is $36.44. EQT Co. has a one year low of $30.02 and a one year high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.06 billion. During the same period last year, the company earned ($0.17) EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that EQT Co. will post 1.44 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.81%. EQT’s dividend payout ratio is currently 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.