Holocene Advisors LP Makes New Investment in EQT Co. (NYSE:EQT)

Holocene Advisors LP bought a new stake in EQT Co. (NYSE:EQT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,674,094 shares of the oil and gas producer’s stock, valued at approximately $97,979,000.

A number of other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock valued at $752,487,000 after acquiring an additional 464,781 shares during the period. Modera Wealth Management LLC acquired a new position in shares of EQT during the third quarter worth approximately $562,494,000. Clearbridge Investments LLC boosted its position in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after buying an additional 253,186 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in EQT by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock valued at $183,678,000 after acquiring an additional 1,108,134 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of EQT by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,224,784 shares of the oil and gas producer’s stock valued at $156,243,000 after purchasing an additional 697,824 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Down 0.8 %

NYSE EQT opened at $45.06 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $39.35 and a 200 day simple moving average of $37.15. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The firm has a market capitalization of $26.89 billion, a P/E ratio of 54.10 and a beta of 1.06.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company 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 firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. On average, analysts predict that EQT Co. will post 1.36 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. 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 1.40%. EQT’s payout ratio is 75.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EQT shares. Bank of America began coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Mizuho lifted their target price on EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Piper Sandler boosted their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Truist Financial increased their price objective on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Finally, Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. One research 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’s stock. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $44.67.

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.