Whittier Trust Co. Increases Holdings in EQT Co. (NYSE:EQT)

Whittier Trust Co. increased its stake in EQT Co. (NYSE:EQT) by 4.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 276,051 shares of the oil and gas producer’s stock after buying an additional 12,670 shares during the quarter. Whittier Trust Co. owned 0.06% of EQT worth $10,112,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in EQT in the second quarter valued at about $28,000. Hexagon Capital Partners LLC lifted its stake in EQT by 18,080.0% in the third 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 last quarter. Blue Trust Inc. grew its holdings in 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 purchasing an additional 598 shares during the period. Wolff Wiese Magana LLC increased its position in EQT by 936.1% in the second 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 last quarter. Finally, Rise Advisors LLC raised its stake in shares of EQT by 224.8% in the third quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer’s stock valued at $38,000 after buying an additional 717 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.4 %

Shares of NYSE EQT opened at $36.36 on Tuesday. 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 business has a 50-day moving average of $34.47 and a 200-day moving average of $36.61. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of 26.35 and a beta of 1.06. EQT Co. has a 12 month low of $30.02 and a 12 month 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Sell-side analysts expect that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.73%. EQT’s payout ratio is 45.65%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. UBS Group lowered their price target on shares of EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho cut their price objective on shares of EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. Finally, Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. One research 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, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $42.18.

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.