Verus Capital Partners LLC Makes New Investment in EQT Co. (NYSE:EQT)

Verus Capital Partners LLC bought a new stake in EQT Co. (NYSE:EQT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,656 shares of the oil and gas producer’s stock, valued at approximately $281,000.

Several other large investors have also modified their holdings of EQT. Envestnet Portfolio Solutions Inc. purchased a new position in EQT during the 1st quarter worth $418,000. Oppenheimer & Co. Inc. purchased a new position in EQT during the first quarter worth about $214,000. Oppenheimer Asset Management Inc. lifted its position in EQT by 32.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,322 shares of the oil and gas producer’s stock valued at $494,000 after purchasing an additional 3,271 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in EQT in the 1st quarter valued at approximately $210,000. Finally, Avantax Advisory Services Inc. raised its stake in shares of EQT by 19.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,284 shares of the oil and gas producer’s stock worth $270,000 after buying an additional 1,172 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 1.1 %

Shares of NYSE EQT opened at $43.31 on Thursday. The firm’s 50 day moving average price is $36.29 and its 200 day moving average price is $36.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $25.84 billion, a P/E ratio of 51.79 and a beta of 1.06. EQT Co. has a 1 year low of $30.02 and a 1 year high of $44.28.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (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 business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that EQT Co. will post 1.28 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.45%. EQT’s dividend payout ratio is presently 75.00%.

Wall Street Analyst Weigh In

EQT has been the topic of a number of analyst reports. Morgan Stanley restated an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. Wolfe Research started coverage on shares of EQT in a report on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target for the company. Bank of America began coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Finally, BMO Capital Markets boosted their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.83.

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.