Oppenheimer & Co. Inc. Increases Position in EQT Co. (NYSE:EQT)

Oppenheimer & Co. Inc. grew its holdings in shares of EQT Co. (NYSE:EQT) by 245.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,387 shares of the oil and gas producer’s stock after purchasing an additional 18,757 shares during the period. Oppenheimer & Co. Inc.’s holdings in EQT were worth $967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EQT. Cetera Investment Advisers purchased a new position in EQT in the first quarter worth about $2,274,000. UniSuper Management Pty Ltd lifted its position in EQT by 563.1% in the 1st 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. Swedbank AB purchased a new stake in EQT during the 1st quarter valued at $4,073,000. Virtu Financial LLC increased its holdings in shares of EQT by 184.3% in the 1st quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock worth $1,970,000 after purchasing an additional 34,446 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of EQT by 71.7% in the third quarter. Janney Montgomery Scott LLC now owns 215,158 shares of the oil and gas producer’s stock worth $7,883,000 after purchasing an additional 89,866 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Down 0.5 %

EQT opened at $44.08 on Wednesday. The stock has a market cap of $26.30 billion, a price-to-earnings ratio of 52.48 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 firm’s fifty day moving average is $37.16 and its 200 day moving average is $36.81. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $44.62.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that EQT Co. will post 1.28 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Analysts Set New Price Targets

Several research firms recently commented on EQT. JPMorgan Chase & Co. increased their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. BMO Capital Markets increased 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. Stephens lifted their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $37.00 to $44.00 in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

EQT 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.