Beck Capital Management LLC Increases Stock Holdings in EQT Co. (NYSE:EQT)

Beck Capital Management LLC lifted its holdings in EQT Co. (NYSE:EQT) by 6.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,279 shares of the oil and gas producer’s stock after purchasing an additional 4,978 shares during the period. Beck Capital Management LLC’s holdings in EQT were worth $2,932,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of EQT in the 2nd quarter valued at about $28,000. Wolff Wiese Magana LLC grew its holdings in EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares in the last quarter. Blue Trust Inc. increased its position in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of EQT by 414.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock valued at $51,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of EQT by 65.5% during the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 570 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on EQT. Citigroup restated a “neutral” rating and issued a $37.00 price target on shares of EQT in a research note on Friday, August 23rd. Mizuho decreased their target price on EQT from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group dropped their price target on shares of EQT from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley restated an “overweight” rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. Finally, Scotiabank increased their target price on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.28.

EQT Stock Up 0.3 %

EQT stock opened at $34.83 on Monday. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 25.24 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $33.28 and a two-hundred day moving average of $36.43. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23.

EQT (NYSE:EQT) last posted its quarterly earnings data 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 firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. EQT’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. As a group, research analysts expect that EQT Co. will post 1.44 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.81%. EQT’s dividend payout ratio is currently 45.65%.

EQT Company 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.