EQT Co. (NYSE:EQT) Position Boosted by Greenleaf Trust

Greenleaf Trust lifted its holdings in EQT Co. (NYSE:EQT) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,128 shares of the oil and gas producer’s stock after purchasing an additional 1,939 shares during the period. Greenleaf Trust’s holdings in EQT were worth $701,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQT. Price T Rowe Associates Inc. MD grew its position in EQT by 22.7% in 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 buying an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of EQT by 8.4% in 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. Merewether Investment Management LP acquired a new position in shares of EQT in the 2nd quarter worth $69,452,000. Boston Partners lifted its holdings in shares of EQT by 33.7% during 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. Finally, Castle Hook Partners LP boosted its position in shares of EQT by 331.7% in the 1st quarter. Castle Hook Partners LP now owns 1,131,771 shares of the oil and gas producer’s stock valued at $41,955,000 after purchasing an additional 869,601 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of 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 market cap of $16.55 billion, a PE ratio of 27.16 and a beta of 1.06. The firm’s 50 day moving average price is $34.87 and its 200 day moving average price is $36.61. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. As a group, research analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

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

Wall Street Analysts Forecast Growth

EQT has been the topic of several recent analyst reports. Wells Fargo & Company upgraded EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. Stephens reduced their price target on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Friday, July 26th. Truist Financial reduced their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, Wolfe Research initiated coverage on EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.18.

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.