CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires New Position in EQT Co. (NYSE:EQT)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in EQT Co. (NYSE:EQT - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 529,045 shares of the oil and gas producer's stock, valued at approximately $19,384,000. EQT makes up approximately 1.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 18th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.12% of EQT at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EQT. Innealta Capital LLC acquired a new stake in shares of EQT in the second quarter worth approximately $28,000. Hexagon Capital Partners LLC increased its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 904 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 908 shares during the period. Blue Trust Inc. grew its stake in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 598 shares during the period. Finally, Rise Advisors LLC increased its holdings in shares of EQT by 224.8% during the 3rd quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer's stock worth $38,000 after buying an additional 717 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock traded down $0.39 on Tuesday, hitting $35.97. The stock had a trading volume of 4,615,710 shares, compared to its average volume of 7,046,629. The stock has a market cap of $15.88 billion, a price-to-earnings ratio of 26.35 and a beta of 1.06. 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 Co. has a 52-week low of $30.02 and a 52-week high of $45.23. The company's 50 day moving average price is $34.47 and its 200 day moving average price is $36.61.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The company's revenue was down 6.5% compared to the same quarter last year. On average, research analysts anticipate that EQT Co. will post 1.37 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT's dividend payout ratio (DPR) is presently 45.65%.

Analyst Ratings Changes

EQT has been the topic of a number of research analyst reports. Wolfe Research began coverage on EQT in a research report on Thursday, July 18th. They issued an "outperform" rating and a $51.00 target price on the stock. Mizuho dropped their price target on shares of EQT from $43.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, October 4th. JPMorgan Chase & Co. upped their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. StockNews.com raised shares of EQT to a "sell" rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their target price on EQT from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.18.

EQT 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.