TD Asset Management Inc Acquires 48,027 Shares of EQT Co. (NYSE:EQT)

TD Asset Management Inc grew its holdings in EQT Co. (NYSE:EQT) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,234,975 shares of the oil and gas producer’s stock after acquiring an additional 48,027 shares during the period. TD Asset Management Inc owned 0.28% of EQT worth $45,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EQT. Founders Financial Securities LLC raised its holdings in EQT by 13.0% in the 2nd quarter. Founders Financial Securities LLC now owns 9,271 shares of the oil and gas producer’s stock worth $343,000 after purchasing an additional 1,067 shares during the period. Oregon Public Employees Retirement Fund increased its position in EQT by 7.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 37,910 shares of the oil and gas producer’s stock worth $1,402,000 after buying an additional 2,710 shares in the last quarter. Fiera Capital Corp raised its stake in shares of EQT by 1.1% in the second quarter. Fiera Capital Corp now owns 726,935 shares of the oil and gas producer’s stock worth $26,882,000 after buying an additional 8,149 shares during the period. Rhumbline Advisers lifted its position in shares of EQT by 7.1% during the 2nd quarter. Rhumbline Advisers now owns 840,339 shares of the oil and gas producer’s stock valued at $31,076,000 after buying an additional 55,384 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of EQT by 5.5% during the 2nd quarter. CIBC Asset Management Inc now owns 59,206 shares of the oil and gas producer’s stock valued at $2,189,000 after buying an additional 3,070 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. Piper Sandler downgraded shares of EQT from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. BMO Capital Markets lifted their target price on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Jefferies Financial Group increased their price target on EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Mizuho boosted their price objective on EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, EQT presently has a consensus rating of “Hold” and a consensus price target of $44.35.

EQT Stock Performance

NYSE:EQT opened at $32.35 on Friday. The company has a market cap of $14.29 billion, a price-to-earnings ratio of 23.44 and a beta of 1.12. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23. The stock’s 50 day simple moving average is $33.98 and its two-hundred day simple moving average is $36.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted ($0.17) earnings per share. EQT’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities analysts anticipate that EQT Co. will post 1.43 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.95%. EQT’s payout ratio is currently 45.65%.

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.