Swiss National Bank Purchases 437,602 Shares of EQT Co. (NYSE:EQT)

Swiss National Bank raised its holdings in shares of EQT Co. (NYSE:EQT) by 35.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,677,261 shares of the oil and gas producer’s stock after purchasing an additional 437,602 shares during the period. Swiss National Bank owned 0.38% of EQT worth $61,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. HM Payson & Co. bought a new stake in EQT in the third quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of EQT in the 2nd quarter valued at approximately $28,000. Hexagon Capital Partners LLC boosted its stake in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in 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 purchasing an additional 908 shares during the period. Finally, Blue Trust Inc. increased its stake in EQT by 149.5% in the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

EQT has been the subject of several research analyst reports. Piper Sandler boosted their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Morgan Stanley restated an “overweight” rating and issued a $45.00 price target on shares of EQT in a report on Friday, September 13th. UBS Group lifted their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Bank of America started coverage on EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, BMO Capital Markets raised their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

EQT Stock Performance

Shares of EQT opened at $44.08 on Wednesday. The company has a market cap of $26.30 billion, a PE ratio of 52.48 and a beta of 1.06. The firm has a 50-day moving average of $37.16 and a 200-day moving average of $36.81. EQT Co. has a one year low of $30.02 and a one year high of $44.62. 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 (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.35 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that EQT Co. will post 1.28 earnings per share for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is presently 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.