Exchange Traded Concepts LLC Buys 5,394 Shares of EQT Co. (NYSE:EQT)

Exchange Traded Concepts LLC raised its stake in EQT Co. (NYSE:EQT) by 780.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,085 shares of the oil and gas producer’s stock after acquiring an additional 5,394 shares during the quarter. Exchange Traded Concepts LLC’s holdings in EQT were worth $223,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers bought a new position in EQT during the 1st quarter worth $2,274,000. UniSuper Management Pty Ltd grew its stake in shares of EQT by 563.1% in the first quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after acquiring an additional 24,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in EQT by 17.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock worth $17,374,000 after acquiring an additional 70,325 shares during the period. Vanguard Group Inc. raised its stake in EQT by 8.4% in 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 purchasing an additional 3,942,802 shares in the last quarter. Finally, Swedbank AB bought a new stake in EQT in the 1st quarter valued at about $4,073,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stephens cut their price target on EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Mizuho reduced their target price on EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, October 4th. Wolfe Research initiated coverage on EQT in a research report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. Finally, BMO Capital Markets increased their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $42.18.

EQT Stock Performance

Shares of EQT opened at $36.36 on Tuesday. 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’s fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $36.61. EQT Co. has a 12 month low of $30.02 and a 12 month high of $45.23. The stock has a market capitalization of $16.06 billion, a P/E ratio of 26.35 and a beta of 1.06.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the firm posted ($0.17) earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. As a group, analysts predict that EQT Co. will post 1.37 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.73%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) 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.