Glazer Capital LLC Invests $345,000 in EQT Co. (NYSE:EQT)

Glazer Capital LLC bought a new stake in EQT Co. (NYSE:EQT) during the second quarter, according to its most recent filing with the SEC. The firm bought 9,320 shares of the oil and gas producer’s stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of EQT by 27.9% during the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock worth $737,089,000 after purchasing an additional 4,339,407 shares during the period. Vanguard Group Inc. raised its position in shares of EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Third Point LLC bought a new stake in shares of EQT in the fourth quarter valued at about $75,387,000. Finally, Boston Partners grew its position in EQT by 33.7% during the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after buying an additional 966,475 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Trading Up 3.3 %

EQT opened at $35.97 on Tuesday. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23. The stock has a market capitalization of $15.88 billion, a PE ratio of 26.07 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 firm has a 50-day moving average price of $33.26 and a two-hundred day moving average price of $36.42.

EQT (NYSE:EQT) last issued 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. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted ($0.17) earnings per share. EQT’s revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that EQT Co. will post 1.44 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Analyst Ratings Changes

EQT has been the subject of a number of research reports. Truist Financial reduced their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Scotiabank boosted their price target on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a report on Friday, July 12th. Wolfe Research began coverage on shares of EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective for the company. Jefferies Financial Group upped their target price on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.28.

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.