Tidal Investments LLC Grows Stock Holdings in EQT Co. (NYSE:EQT)

Tidal Investments LLC boosted its stake in EQT Co. (NYSE:EQT - Free Report) by 55.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,816 shares of the oil and gas producer's stock after acquiring an additional 21,789 shares during the period. Tidal Investments LLC's holdings in EQT were worth $2,228,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EQT. Wealth Enhancement Advisory Services LLC raised its position in shares of EQT by 8.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,243 shares of the oil and gas producer's stock worth $1,081,000 after acquiring an additional 2,209 shares in the last quarter. Blue Trust Inc. raised its holdings in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 598 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in EQT by 4.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 938,133 shares of the oil and gas producer's stock valued at $34,692,000 after buying an additional 41,531 shares during the period. Raymond James & Associates boosted its holdings in shares of EQT by 16.4% during the 2nd quarter. Raymond James & Associates now owns 739,589 shares of the oil and gas producer's stock valued at $27,350,000 after buying an additional 104,059 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its position in shares of EQT by 5.3% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 241,327 shares of the oil and gas producer's stock worth $8,924,000 after buying an additional 12,179 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

EQT stock traded down $0.62 during midday trading on Tuesday, reaching $44.20. 7,054,858 shares of the company traded hands, compared to its average volume of 7,154,048. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. 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 $26.37 billion, a price-to-earnings ratio of 53.36 and a beta of 1.14. The business has a 50 day moving average of $41.15 and a two-hundred day moving average of $37.44.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. 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 prior year, the firm earned $0.30 EPS. The company's revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.43%. EQT's dividend payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of EQT from $42.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, November 25th. JPMorgan Chase & Co. boosted their price target on EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $49.00 price objective on shares of EQT in a research report on Tuesday, December 3rd. Stephens boosted their target price on EQT from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, November 4th. One 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $46.61.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company's stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.63% of the company's stock.

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.