EQT Co. (NYSE:EQT) Position Boosted by Swiss National Bank

Swiss National Bank boosted its holdings in EQT Co. (NYSE:EQT - Free Report) by 35.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,677,261 shares of the oil and gas producer's stock after buying an additional 437,602 shares during the period. Swiss National Bank owned approximately 0.38% of EQT worth $61,455,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EQT. Thrivent Financial for Lutherans grew its position in EQT by 71.4% in the third quarter. Thrivent Financial for Lutherans now owns 30,540 shares of the oil and gas producer's stock valued at $1,119,000 after acquiring an additional 12,723 shares in the last quarter. Natixis Advisors LLC grew its position in EQT by 10.7% in the third quarter. Natixis Advisors LLC now owns 177,904 shares of the oil and gas producer's stock valued at $6,518,000 after acquiring an additional 17,233 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in EQT by 23.5% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,588 shares of the oil and gas producer's stock valued at $644,000 after acquiring an additional 3,345 shares in the last quarter. Kentucky Retirement Systems grew its position in EQT by 24.4% in the third quarter. Kentucky Retirement Systems now owns 41,383 shares of the oil and gas producer's stock valued at $1,516,000 after acquiring an additional 8,106 shares in the last quarter. Finally, Empowered Funds LLC grew its position in EQT by 29.0% in the third quarter. Empowered Funds LLC now owns 196,443 shares of the oil and gas producer's stock valued at $7,198,000 after acquiring an additional 44,130 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Performance

Shares of NYSE EQT traded up $2.46 during midday trading on Wednesday, reaching $46.54. 18,597,260 shares of the company traded hands, compared to its average volume of 7,112,272. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50-day moving average price of $37.39 and a 200 day moving average price of $36.83. EQT Co. has a 52 week low of $30.02 and a 52 week high of $46.86. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 52.48 and a beta of 1.06.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping 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 analysts' expectations of $1.35 billion. During the same period in the previous year, the business earned $0.30 earnings per share. EQT's revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that EQT Co. will post 1.28 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid 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 yield of 1.35%. EQT's dividend payout ratio is currently 75.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. UBS Group raised their price target on shares of EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Stephens raised their price target 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. Piper Sandler lifted their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company raised shares of EQT from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $42.83.

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.