Atria Investments Inc Makes New Investment in EQT Co. (NYSE:EQT)

Atria Investments Inc purchased a new position in EQT Co. (NYSE:EQT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,499 shares of the oil and gas producer’s stock, valued at approximately $201,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of EQT by 2.3% in the second 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 purchasing an additional 464,781 shares during the last quarter. Modera Wealth Management LLC purchased a new position in shares of EQT in the third quarter worth about $562,494,000. Clearbridge Investments LLC raised its stake in shares of EQT by 2.9% in 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 raised its stake in shares of 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 worth $156,243,000 after purchasing an additional 697,824 shares during the last quarter. Finally, Boston Partners raised its stake in shares of EQT by 33.7% in the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $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.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Mizuho lifted their price target on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $42.83.

EQT Stock Performance

NYSE EQT opened at $45.92 on Monday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $48.02. The stock has a market cap of $27.40 billion, a price-to-earnings ratio of 54.67 and a beta of 1.06. The business has a fifty day moving average of $38.20 and a 200-day moving average of $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 quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts predict that EQT Co. will post 1.35 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.37%. EQT’s dividend payout ratio (DPR) is 75.00%.

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.