Mariner Investment Group LLC Acquires New Stake in EQT Co. (NYSE:EQT)

Mariner Investment Group LLC bought a new stake in shares of EQT Co. (NYSE:EQT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 30,000 shares of the oil and gas producer's stock, valued at approximately $1,099,000. EQT comprises approximately 0.3% of Mariner Investment Group LLC's investment portfolio, making the stock its 10th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers acquired a new stake in shares of EQT during the 1st quarter valued at about $2,274,000. UniSuper Management Pty Ltd boosted its stake in EQT by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer's stock valued at $1,079,000 after buying an additional 24,713 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in EQT by 17.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer's stock valued at $17,374,000 after acquiring an additional 70,325 shares during the period. Vanguard Group Inc. raised its stake 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 in the last quarter. Finally, Swedbank AB bought a new position in shares of EQT during the first quarter valued at $4,073,000. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 3.3 %

Shares of EQT stock traded up $1.18 during trading on Monday, hitting $36.80. 6,787,856 shares of the company were exchanged, compared to its average volume of 7,037,509. The firm has a market capitalization of $16.25 billion, a P/E ratio of 43.54 and a beta of 1.06. The firm's fifty day moving average price is $35.24 and its 200 day moving average price is $36.60. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.73. EQT Co. has a 1-year low of $30.02 and a 1-year high of $44.47.

EQT (NYSE:EQT - Get Free Report) last issued 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 firm 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 business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. As a group, sell-side analysts expect that EQT Co. will post 1.42 earnings per share for the current fiscal year.

EQT Dividend Announcement

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 is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.71%. EQT's payout ratio is 75.00%.

Analysts Set New Price Targets

A number of research firms have commented on EQT. Piper Sandler boosted their price target on shares of EQT from $32.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday. StockNews.com raised EQT to a "sell" rating in a research note on Friday, July 26th. Mizuho decreased their target price on EQT from $43.00 to $41.00 and set a "neutral" rating on the stock in a report on Friday, October 4th. Bank of America started coverage on shares of EQT in a research report on Monday, October 28th. They set a "buy" rating and a $50.00 price target on the stock. Finally, Stephens raised their price objective on shares of EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.61.

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.