NINE MASTS CAPITAL Ltd Buys Shares of 8,000 EQT Co. (NYSE:EQT)

NINE MASTS CAPITAL Ltd purchased a new position in shares of EQT Co. (NYSE:EQT) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,000 shares of the oil and gas producer’s stock, valued at approximately $296,000.

A number of other hedge funds have also made changes to their positions in the stock. Innealta Capital LLC bought a new stake in EQT during the second quarter worth approximately $28,000. Private Wealth Management Group LLC bought a new stake in shares of EQT during the 4th quarter worth $30,000. Blue Trust Inc. grew its stake in EQT by 149.5% in 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 last quarter. Wolff Wiese Magana LLC raised its holdings in EQT by 936.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares during the period. Finally, Principal Securities Inc. acquired a new position in EQT during the 4th quarter worth $51,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EQT shares. Stephens lowered their price target on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Truist Financial dropped their price target on EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Piper Sandler cut EQT from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. upgraded shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Hold” and a consensus target price of $44.35.

EQT Price Performance

EQT stock opened at $32.88 on Thursday. The business’s fifty day moving average is $33.71 and its two-hundred day moving average is $36.60. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $14.52 billion, a P/E ratio of 23.83 and a beta of 1.06. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities research analysts forecast that EQT Co. will post 1.43 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

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.