EQT Co. (NYSE:EQT) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in shares of EQT Co. (NYSE:EQT) by 71.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,540 shares of the oil and gas producer’s stock after purchasing an additional 12,723 shares during the quarter. Thrivent Financial for Lutherans’ holdings in EQT were worth $1,119,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in EQT. Bank of New York Mellon Corp boosted its position in EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after buying an additional 464,781 shares during the period. Modera Wealth Management LLC purchased a new position in EQT in the third quarter valued at $562,494,000. 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 purchasing an additional 253,186 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in EQT by 19.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,224,784 shares of the oil and gas producer’s stock worth $156,243,000 after purchasing an additional 697,824 shares during the period. Finally, Canoe Financial LP acquired a new stake in EQT in the 3rd quarter valued at about $89,907,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Up 0.4 %

EQT stock opened at $45.44 on Monday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 54.10 and a beta of 1.06. The company has a fifty day moving average price of $39.35 and a 200 day moving average price of $37.15.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts expect that EQT Co. will post 1.36 earnings per share for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s payout ratio is currently 75.00%.

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. increased their price objective on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America began coverage on EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Stephens lifted their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

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.