Oppenheimer & Co. Inc. Raises Holdings in EQT Co. (NYSE:EQT)

Oppenheimer & Co. Inc. increased its position in EQT Co. (NYSE:EQT) by 245.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,387 shares of the oil and gas producer’s stock after buying an additional 18,757 shares during the period. Oppenheimer & Co. Inc.’s holdings in EQT were worth $967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in shares of EQT during the 1st quarter worth approximately $2,274,000. UniSuper Management Pty Ltd increased its position in EQT by 563.1% in the first quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock worth $1,079,000 after purchasing an additional 24,713 shares during the last quarter. Swedbank AB purchased a new stake in EQT during the first quarter valued at $4,073,000. Virtu Financial LLC lifted its position in EQT by 184.3% during the first quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock valued at $1,970,000 after purchasing an additional 34,446 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of EQT by 71.7% in the 3rd quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock worth $7,883,000 after buying an additional 89,866 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQT has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. BMO Capital Markets raised their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price target on shares of EQT in a research note on Friday, September 13th. One 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Trading Down 0.5 %

NYSE EQT opened at $44.08 on Wednesday. EQT Co. has a one year low of $30.02 and a one year high of $44.62. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 52.48 and a beta of 1.06. The company’s 50-day simple moving average is $37.16 and its two-hundred day simple moving average is $36.81.

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 the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Equities analysts forecast that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is currently 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.