Rockingstone Advisors LLC Takes $395,000 Position in EQT Co. (NYSE:EQT)

Rockingstone Advisors LLC purchased a new stake in EQT Co. (NYSE:EQT) during the third quarter, according to its most recent filing with the SEC. The firm purchased 10,790 shares of the oil and gas producer’s stock, valued at approximately $395,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew 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 worth $2,405,007,000 after buying an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. grew its stake in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Bank of New York Mellon Corp grew its stake in EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after buying an additional 464,781 shares during the last quarter. Wellington Management Group LLP grew its stake in EQT by 3.2% during the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after buying an additional 632,625 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after buying an additional 253,186 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on EQT shares. Wolfe Research started coverage on EQT in a research note on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. StockNews.com upgraded EQT to a “sell” rating in a research note on Friday, July 26th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, Scotiabank boosted their price target on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.18.

EQT Stock Down 0.6 %

NYSE:EQT opened at $37.07 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $33.53 and its two-hundred day moving average is $36.57. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23. The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of 26.86 and a beta of 1.06.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. Research analysts anticipate that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, August 7th. 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.