B. Metzler seel. Sohn & Co. Holding AG Takes Position in EQT Co. (NYSE:EQT)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of EQT Co. (NYSE:EQT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,771 shares of the oil and gas producer’s stock, valued at approximately $358,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in 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 buying an additional 464,781 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT during the 3rd quarter worth about $562,494,000. Clearbridge Investments LLC lifted its stake in 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 during the last quarter. Dimensional Fund Advisors LP boosted 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 purchasing an additional 697,824 shares in the last quarter. Finally, Boston Partners increased its stake in EQT by 33.7% in the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock valued at $142,178,000 after purchasing an additional 966,475 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 2.1 %

Shares of EQT stock opened at $45.92 on Monday. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 54.67 and a beta of 1.06. EQT Co. has a 52-week low of $30.02 and a 52-week high of $48.02. The company’s 50-day simple moving average is $38.20 and its 200-day simple moving average is $36.96. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, equities research analysts anticipate that EQT Co. will post 1.35 earnings per share for the current year.

EQT Announces Dividend

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 issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EQT. JPMorgan Chase & Co. boosted their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Bank of America initiated coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Piper Sandler lifted their target price on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 target price on shares of EQT in a research report on Friday, September 13th. Finally, BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.83.

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.