Envestnet Asset Management Inc. Acquires 6,427 Shares of EQT Co. (NYSE:EQT)

Envestnet Asset Management Inc. increased its holdings in shares of EQT Co. (NYSE:EQT) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,697 shares of the oil and gas producer’s stock after acquiring an additional 6,427 shares during the period. Envestnet Asset Management Inc. owned approximately 0.05% of EQT worth $8,531,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Innealta Capital LLC bought a new position in EQT in the 2nd quarter worth $28,000. Wolff Wiese Magana LLC increased its stake in EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 908 shares during the period. Blue Trust Inc. increased its stake in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares during the period. Industrial Alliance Investment Management Inc. increased its holdings in shares of EQT by 65.5% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 570 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in EQT in the first quarter worth $54,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Up 2.9 %

Shares of EQT stock opened at $36.53 on Friday. The firm’s 50 day moving average price is $33.25 and its two-hundred day moving average price is $36.39. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 26.42 and a beta of 1.06. 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 Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23.

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

EQT Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EQT shares. Citigroup reissued a “neutral” rating and set a $37.00 target price on shares of EQT in a report on Friday, August 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. Mizuho decreased their price objective on shares of EQT from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Scotiabank lifted their target price on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Finally, Truist Financial cut their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.