D.A. Davidson & CO. Takes $209,000 Position in EQT Co. (NYSE:EQT)

D.A. Davidson & CO. acquired a new stake in shares of EQT Co. (NYSE:EQT) during the third quarter, Holdings Channel.com reports. The fund acquired 5,705 shares of the oil and gas producer’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of EQT by 22.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,100,353 shares of the oil and gas producer’s stock valued at $76,957,000 after purchasing an additional 391,902 shares during the period. Truvestments Capital LLC bought a new stake in shares of EQT in the third quarter worth $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of EQT in the third quarter worth $36,000. Independent Advisor Alliance increased its stake in shares of EQT by 9.7% in the third quarter. Independent Advisor Alliance now owns 15,926 shares of the oil and gas producer’s stock worth $584,000 after buying an additional 1,412 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of EQT by 46.0% in the third quarter. Daiwa Securities Group Inc. now owns 75,047 shares of the oil and gas producer’s stock worth $2,750,000 after buying an additional 23,640 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT opened at $44.72 on Thursday. The company has a market cap of $26.68 billion, a price-to-earnings ratio of 53.24 and a beta of 1.14. The firm has a fifty day moving average of $39.90 and a 200-day moving average of $37.26. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last posted its quarterly earnings data 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 company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, equities analysts anticipate that EQT Co. will post 1.36 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.41%. The ex-dividend date was Wednesday, November 6th. EQT’s payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EQT. Truist Financial lifted their price target on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Mizuho lifted their price objective on shares of EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT has an average rating of “Hold” and a consensus price target of $44.83.

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.