US Bancorp DE Acquires 13,090 Shares of EQT Co. (NYSE:EQT)

US Bancorp DE boosted its stake in EQT Co. (NYSE:EQT - Free Report) by 59.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,174 shares of the oil and gas producer's stock after purchasing an additional 13,090 shares during the quarter. US Bancorp DE's holdings in EQT were worth $1,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HM Payson & Co. bought a new position in EQT in the 3rd quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of EQT in the 2nd quarter worth approximately $28,000. Hexagon Capital Partners LLC raised its stake in shares of 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 valued at $33,000 after acquiring an additional 904 shares during the period. Wolff Wiese Magana LLC grew its stake in shares of EQT by 936.1% during the second 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. grew its holdings in shares of 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 during the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQT. StockNews.com upgraded EQT to a "sell" rating in a research note on Friday, July 26th. BMO Capital Markets increased their price objective on EQT from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Truist Financial cut their price target on EQT from $36.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, July 22nd. Morgan Stanley reissued an "overweight" rating and issued a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. Finally, Scotiabank lifted their price target on shares of EQT from $54.00 to $55.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, EQT currently has an average rating of "Moderate Buy" and a consensus price target of $42.83.

EQT Price Performance

NYSE:EQT traded up $0.61 during trading hours on Friday, hitting $41.30. The company's stock had a trading volume of 3,017,177 shares, compared to its average volume of 7,037,229. EQT Co. has a 52-week low of $30.02 and a 52-week high of $42.44. The company has a market capitalization of $24.64 billion, a PE ratio of 49.01 and a beta of 1.06. The business's 50-day moving average is $35.56 and its two-hundred day moving average is $36.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

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, topping 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm earned $0.30 EPS. The business's revenue was up 8.2% on a year-over-year basis. As a group, research analysts anticipate that EQT Co. will post 1.39 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared 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. This represents a $0.63 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Wednesday, November 6th. EQT's dividend payout ratio is 75.00%.

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.