Chartwell Investment Partners LLC Buys 8,000 Shares of EQT Co. (NYSE:EQT)

Chartwell Investment Partners LLC increased its stake in shares of EQT Co. (NYSE:EQT) by 11.4% during the third quarter, HoldingsChannel reports. The fund owned 78,000 shares of the oil and gas producer’s stock after acquiring an additional 8,000 shares during the quarter. Chartwell Investment Partners LLC’s holdings in EQT were worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cetera Investment Advisers bought a new stake in EQT during the 1st quarter worth about $2,274,000. UniSuper Management Pty Ltd boosted its holdings in shares of EQT by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after buying an additional 24,713 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of EQT by 17.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock valued at $17,374,000 after buying an additional 70,325 shares during the last quarter. Vanguard Group Inc. lifted its holdings in EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Finally, Swedbank AB acquired a new stake in EQT during the 1st quarter valued at $4,073,000. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.5 %

EQT stock opened at $43.78 on Wednesday. The firm has a market cap of $26.12 billion, a price-to-earnings ratio of 52.12 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12 month low of $30.02 and a 12 month high of $44.28. The stock has a fifty day simple moving average of $36.07 and a two-hundred day simple moving average of $36.69.

EQT (NYSE:EQT) last released its quarterly earnings results 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 return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts predict that EQT Co. will post 1.34 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is 75.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wolfe Research assumed coverage on EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective on the stock. Piper Sandler raised their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. UBS Group lifted their price target on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, Truist Financial lowered their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, EQT has an average rating of “Moderate Buy” and a consensus target price of $42.83.

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.