Brooklyn Investment Group Takes Position in EQT Co. (NYSE:EQT)

Brooklyn Investment Group acquired a new stake in EQT Co. (NYSE:EQT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,859 shares of the oil and gas producer’s stock, valued at approximately $68,000.

Several other institutional investors have also modified their holdings of the stock. Davis Investment Partners LLC increased its holdings in shares of EQT by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after acquiring an additional 317 shares during the period. Hancock Whitney Corp grew its position in EQT by 3.0% during the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after buying an additional 419 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of EQT by 7.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after buying an additional 421 shares during the last quarter. SeaBridge Investment Advisors LLC boosted its stake in shares of EQT by 1.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock valued at $1,139,000 after acquiring an additional 431 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in EQT by 40.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT stock opened at $45.28 on Friday. The business’s 50-day simple moving average is $39.14 and its 200 day simple moving average is $37.16. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $27.02 billion, a price-to-earnings ratio of 53.91 and a beta of 1.06. EQT Co. has a 12-month low of $30.02 and a 12-month high of $48.02.

EQT (NYSE:EQT) last posted 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 business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that EQT Co. will post 1.38 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. EQT’s payout ratio is 75.00%.

Analyst Upgrades and Downgrades

EQT has been the topic of several research reports. Mizuho raised their price target on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. UBS Group lifted their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

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.