Intech Investment Management LLC Boosts Stake in EQT Co. (NYSE:EQT)

Intech Investment Management LLC grew its stake in EQT Co. (NYSE:EQT) by 251.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,770 shares of the oil and gas producer’s stock after acquiring an additional 72,821 shares during the quarter. Intech Investment Management LLC’s holdings in EQT were worth $3,763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC purchased a new position in EQT in the second quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 598 shares in the last quarter. Wolff Wiese Magana LLC grew its position in shares of EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 908 shares during the last quarter. Principal Securities Inc. bought a new position in shares of EQT during the 4th quarter worth approximately $51,000. Finally, Industrial Alliance Investment Management Inc. boosted its stake in EQT by 65.5% in 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 acquiring an additional 570 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.3 %

Shares of EQT stock opened at $34.83 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23. The stock has a 50 day moving average of $33.28 and a 200 day moving average of $36.44. The stock has a market cap of $15.38 billion, a P/E ratio of 25.24 and a beta of 1.06.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. The firm had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) EPS. As a group, sell-side analysts expect that EQT Co. will post 1.44 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.81%. EQT’s payout ratio is 45.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on EQT from $42.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Truist Financial lowered their price target on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Scotiabank upped their price objective 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. UBS Group lowered their target price on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Wolfe Research began coverage on shares of EQT in a research note on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.