Assetmark Inc. Has $1.02 Million Stock Holdings in EQT Co. (NYSE:EQT)

Assetmark Inc. raised its holdings in EQT Co. (NYSE:EQT) by 8.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 27,899 shares of the oil and gas producer’s stock after acquiring an additional 2,283 shares during the period. Assetmark Inc.’s holdings in EQT were worth $1,022,000 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. HM Payson & Co. acquired a new position in EQT in the 3rd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in EQT in the 2nd quarter valued at approximately $28,000. Hexagon Capital Partners LLC increased its position in EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares during the period. Wolff Wiese Magana LLC increased its position 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 valued at $37,000 after acquiring an additional 908 shares during the period. Finally, Blue Trust Inc. increased its position in EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 598 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock opened at $42.87 on Friday. The firm has a 50-day moving average of $36.50 and a 200-day moving average of $36.76. The company has a market cap of $25.58 billion, a P/E ratio of 51.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a one year low of $30.02 and a one year high of $44.28.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities research analysts forecast that EQT Co. will post 1.28 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. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.47%. EQT’s dividend payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on EQT shares. Piper Sandler increased their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley reiterated an “overweight” rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. JPMorgan Chase & Co. increased 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. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. Finally, Wolfe Research began coverage on shares of EQT in a research note on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

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.