Veriti Management LLC Purchases New Holdings in EQT Co. (NYSE:EQT)

Posted by on Apr 5th, 2023

Veriti Management LLC purchased a new stake in EQT Co. (NYSE:EQT – Get Rating) in the 4th quarter, HoldingsChannel reports. The fund purchased 5,946 shares of the oil and gas producer’s stock, valued at approximately $201,000.

Other hedge funds have also made changes to their positions in the company. Resonant Capital Advisors LLC increased its stake in EQT by 0.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 29,028 shares of the oil and gas producer’s stock valued at $1,183,000 after buying an additional 271 shares during the period. Veritable L.P. increased its stake in EQT by 3.9% in the 3rd quarter. Veritable L.P. now owns 8,017 shares of the oil and gas producer’s stock valued at $327,000 after buying an additional 301 shares during the period. Geneos Wealth Management Inc. increased its stake in EQT by 15.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,605 shares of the oil and gas producer’s stock valued at $89,000 after buying an additional 351 shares during the period. Captrust Financial Advisors increased its stake in EQT by 3.2% in the 1st quarter. Captrust Financial Advisors now owns 14,014 shares of the oil and gas producer’s stock valued at $482,000 after buying an additional 436 shares during the period. Finally, West Family Investments Inc. increased its stake in EQT by 0.4% in the 3rd quarter. West Family Investments Inc. now owns 135,997 shares of the oil and gas producer’s stock valued at $5,542,000 after buying an additional 497 shares during the period. Hedge funds and other institutional investors own 97.60% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $32.48 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 1.08. EQT Co. has a fifty-two week low of $28.10 and a fifty-two week high of $51.97. The firm has a fifty day moving average price of $31.52 and a two-hundred day moving average price of $36.52. The company has a market cap of $11.70 billion, a PE ratio of 7.90 and a beta of 1.16.

EQT (NYSE:EQT – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The oil and gas producer reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business posted $0.41 earnings per share. EQT’s revenue for the quarter was down 6.6% on a year-over-year basis. Analysts expect that EQT Co. will post 3.61 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 21st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, February 17th. EQT’s dividend payout ratio (DPR) is presently 14.60%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EQT. Morgan Stanley dropped their price objective on shares of EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, March 27th. Wells Fargo & Company began coverage on shares of EQT in a research note on Tuesday, January 24th. They set an “overweight” rating and a $41.00 price target on the stock. TD Securities dropped their price target on shares of EQT from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 17th. Citigroup lowered shares of EQT from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $60.00 to $40.00 in a research note on Wednesday, December 7th. Finally, StockNews.com began coverage on shares of EQT in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average target price of $52.29.

About EQT

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EQT Corp. is a natural gas production company, which engages in the supply, transmission, and distribution of natural gas. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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