Fidelis Capital Partners LLC Acquires 1,455 Shares of EQT Co. (NYSE:EQT)

Fidelis Capital Partners LLC grew its holdings in EQT Co. (NYSE:EQT) by 21.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,345 shares of the oil and gas producer’s stock after purchasing an additional 1,455 shares during the period. Fidelis Capital Partners LLC’s holdings in EQT were worth $309,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EQT. Innealta Capital LLC bought a new stake in EQT during the 2nd quarter worth about $28,000. Wolff Wiese Magana LLC raised its holdings in EQT by 936.1% during the second 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. boosted its position in EQT by 149.5% during the second 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. Industrial Alliance Investment Management Inc. boosted its position in EQT by 65.5% during the second quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 570 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in EQT in the first quarter valued at approximately $54,000. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

EQT opened at $35.97 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $15.88 billion, a PE ratio of 26.07 and a beta of 1.06. The business has a fifty day simple moving average of $33.26 and a 200 day simple moving average of $36.42. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during 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. Research analysts expect that EQT Co. will post 1.44 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.75%. EQT’s payout ratio is presently 45.65%.

Wall Street Analyst Weigh In

Several research firms have recently commented on EQT. UBS Group cut their price objective on EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective on shares of EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Wolfe Research assumed coverage on shares of EQT in a research note on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. Piper Sandler downgraded shares of EQT from an “overweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $32.00 in a research note on Thursday, August 15th. Finally, Scotiabank lifted their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.28.

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.