Assetmark Inc. Purchases 2,283 Shares of EQT Co. (NYSE:EQT)

Assetmark Inc. lifted its position in shares of EQT Co. (NYSE:EQT) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,899 shares of the oil and gas producer’s stock after purchasing an additional 2,283 shares during the quarter. Assetmark Inc.’s holdings in EQT were worth $1,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HM Payson & Co. bought a new stake in EQT in the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new stake in EQT in the 2nd quarter valued at $28,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares in the last quarter. Wolff Wiese Magana LLC lifted its position in 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 valued at $37,000 after acquiring an additional 908 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in 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 acquiring an additional 598 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Bank of America started coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.83.

EQT Stock Performance

Shares of EQT stock opened at $42.87 on Friday. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 51.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50-day simple moving average of $36.50 and a 200 day simple moving average of $36.76. EQT Co. has a 52 week low of $30.02 and a 52 week high of $44.28.

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

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is 75.00%.

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.