Phocas Financial Corp. Makes New Investment in EQT Co. (NYSE:EQT)

Phocas Financial Corp. acquired a new stake in shares of EQT Co. (NYSE:EQT - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 31,965 shares of the oil and gas producer's stock, valued at approximately $1,171,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. HM Payson & Co. purchased a new position in EQT in the 3rd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in EQT during the second quarter valued at approximately $28,000. Hexagon Capital Partners LLC boosted its holdings in EQT by 18,080.0% in 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 raised its stake in EQT by 936.1% during 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 last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of EQT by 149.5% during 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. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Up 5.6 %

Shares of EQT stock traded up $2.45 on Wednesday, hitting $46.53. The stock had a trading volume of 18,787,019 shares, compared to its average volume of 7,112,272. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $27.76 billion, a PE ratio of 52.48 and a beta of 1.06. The business has a 50 day moving average price of $37.39 and a 200 day moving average price of $36.83. EQT Co. has a one year low of $30.02 and a one year high of $46.86.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. Research analysts anticipate that EQT Co. will post 1.28 earnings per share for the current fiscal year.

EQT Announces Dividend

The business 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 dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.35%. The ex-dividend date is Wednesday, November 6th. EQT's dividend payout ratio (DPR) is 75.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EQT. Morgan Stanley reaffirmed an "overweight" rating and set a $45.00 price objective on shares of EQT in a research report on Friday, September 13th. Piper Sandler upped their price objective on EQT from $32.00 to $34.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. UBS Group upped their price target on EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Stephens upped their target price on shares of EQT from $37.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, EQT presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.83.

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.