Guidance Capital Inc. Raises Stake in EQT Co. (NYSE:EQT)

Guidance Capital Inc. lifted its position in shares of EQT Co. (NYSE:EQT) by 14.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,881 shares of the oil and gas producer’s stock after buying an additional 3,092 shares during the quarter. Guidance Capital Inc.’s holdings in EQT were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC grew its holdings in shares of EQT by 3.8% during the first quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock worth $302,000 after buying an additional 300 shares in the last quarter. Davis Investment Partners LLC boosted its position in shares of EQT by 1.0% in the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after acquiring an additional 317 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in shares of EQT by 5.1% in the first quarter. Motley Fool Asset Management LLC now owns 6,861 shares of the oil and gas producer’s stock worth $254,000 after acquiring an additional 336 shares during the last quarter. Hancock Whitney Corp boosted its position in shares of EQT by 3.0% in the first quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock worth $541,000 after acquiring an additional 419 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC boosted its position in shares of EQT by 1.4% in the first quarter. SeaBridge Investment Advisors LLC now owns 30,361 shares of the oil and gas producer’s stock worth $1,125,000 after acquiring an additional 428 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

NYSE:EQT traded down $0.09 during mid-day trading on Wednesday, hitting $35.88. The stock had a trading volume of 916,472 shares, compared to its average volume of 7,016,927. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 26.07 and a beta of 1.06. The company has a 50 day simple moving average of $34.56 and a 200-day simple moving average of $36.60. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.

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

EQT Announces Dividend

The firm also recently announced 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 dividend yield of 1.76%. EQT’s payout ratio is currently 45.65%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EQT. Morgan Stanley reissued an “overweight” rating and issued a $45.00 target price on shares of EQT in a research report on Friday, September 13th. BMO Capital Markets raised their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Truist Financial reduced their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Mizuho reduced their price target on shares of EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Finally, Scotiabank lifted their price target on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.18.

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.