Thrivent Financial for Lutherans Increases Stock Holdings in EQT Co. (NYSE:EQT)

Thrivent Financial for Lutherans lifted its position in EQT Co. (NYSE:EQT) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,817 shares of the oil and gas producer’s stock after buying an additional 1,044 shares during the quarter. Thrivent Financial for Lutherans’ holdings in EQT were worth $659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in EQT by 22.7% during the first 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 acquiring an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. lifted its position in 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 period. Bank of New York Mellon Corp raised its position in shares of 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 worth $752,487,000 after purchasing an additional 464,781 shares during the last quarter. Wellington Management Group LLP raised its position in shares of EQT by 3.2% in 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 purchasing an additional 632,625 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of EQT by 4.9% in the 1st quarter. Clearbridge Investments LLC now owns 8,831,500 shares of the oil and gas producer’s stock worth $327,384,000 after purchasing an additional 415,561 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EQT shares. StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 price target on shares of EQT in a report on Friday, September 13th. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Finally, Truist Financial decreased their price target on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.18.

EQT Trading Up 1.0 %

Shares of NYSE EQT opened at $37.30 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $16.47 billion, a P/E ratio of 27.03 and a beta of 1.06. EQT Co. has a 1-year low of $30.02 and a 1-year high of $45.23. The business has a fifty day moving average price of $33.46 and a 200 day moving average price of $36.55.

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, beating 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 during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The company 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 1.69%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s payout ratio is 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.