Creative Planning Raises Stock Position in EQT Co. (NYSE:EQT)

Creative Planning increased its stake in EQT Co. (NYSE:EQT) by 92.6% in the third quarter, Holdings Channel reports. The institutional investor owned 99,480 shares of the oil and gas producer’s stock after acquiring an additional 47,825 shares during the period. Creative Planning’s holdings in EQT were worth $3,645,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of EQT by 22.7% during the first 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 during the last quarter. Vanguard Group Inc. increased its holdings in EQT by 8.4% during the first 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 increased its holdings 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 acquiring an additional 464,781 shares during the period. Clearbridge Investments LLC lifted its stake in shares of EQT by 2.9% during the 2nd 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. Finally, Dimensional Fund Advisors LP boosted its position in EQT by 19.8% during 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. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of NYSE EQT opened at $37.48 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a fifty day moving average of $34.87 and a 200 day moving average of $36.61. The firm has a market cap of $16.55 billion, a PE ratio of 27.16 and a beta of 1.06. EQT Co. has a one year low of $30.02 and a one year high of $45.23.

EQT (NYSE:EQT) last issued its earnings results 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. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) earnings per share. As a group, research analysts predict that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, November 6th. EQT’s payout ratio is currently 45.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Stephens lowered their target price 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. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. UBS Group decreased their target price on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, Truist Financial lowered their target price on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT currently 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.