Catalyst Capital Advisors LLC Makes New Investment in EQT Co. (NYSE:EQT)

Catalyst Capital Advisors LLC purchased a new stake in EQT Co. (NYSE:EQT) in the third quarter, Holdings Channel reports. The institutional investor purchased 2,786 shares of the oil and gas producer’s stock, valued at approximately $102,000.

Several other hedge funds also recently modified their holdings of EQT. Cetera Investment Advisers bought a new position in EQT in the first quarter valued at about $2,274,000. UniSuper Management Pty Ltd raised its holdings in EQT by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after buying an additional 24,713 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in EQT by 17.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock worth $17,374,000 after buying an additional 70,325 shares during the period. Vanguard Group Inc. grew its holdings in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Finally, Swedbank AB acquired a new position in EQT in the 1st quarter valued at approximately $4,073,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQT. Morgan Stanley reiterated an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Scotiabank raised their price target on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Finally, Mizuho upped their price objective on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday. One 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Price Performance

Shares of EQT opened at $40.20 on Thursday. The stock has a market cap of $17.75 billion, a P/E ratio of 47.86 and a beta of 1.06. The business’s fifty day moving average is $35.56 and its 200 day moving average is $36.64. 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 Co. has a 12-month low of $30.02 and a 12-month high of $42.44.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts anticipate that EQT Co. will post 1.42 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

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.