Jade Capital Advisors LLC Takes $916,000 Position in EQT Co. (NYSE:EQT)

Jade Capital Advisors LLC bought a new position in shares of EQT Co. (NYSE:EQT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,000 shares of the oil and gas producer’s stock, valued at approximately $916,000.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of EQT by 22.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after purchasing an additional 11,993,729 shares during the period. Vanguard Group Inc. lifted its position in EQT by 8.4% during the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after acquiring an additional 3,942,802 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of EQT during the second quarter worth approximately $69,452,000. Boston Partners grew its position in shares of EQT by 33.7% in the first quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock valued at $142,178,000 after purchasing an additional 966,475 shares during the last quarter. Finally, Castle Hook Partners LP increased its stake in shares of EQT by 331.7% during the first quarter. Castle Hook Partners LP now owns 1,131,771 shares of the oil and gas producer’s stock worth $41,955,000 after purchasing an additional 869,601 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

NYSE EQT opened at $36.36 on Tuesday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The stock has a market cap of $16.06 billion, a PE ratio of 26.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s fifty day moving average price is $34.47 and its two-hundred day moving average price is $36.61.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, equities analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued 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 1.73%. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQT. BMO Capital Markets upped their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Morgan Stanley restated an “overweight” rating and set a $45.00 target price on shares of EQT in a research report on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Finally, Truist Financial reduced their price target on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.18.

About EQT

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.