Kingsview Wealth Management LLC Has $9.07 Million Holdings in EQT Co. (NYSE:EQT)

Kingsview Wealth Management LLC lifted its stake in EQT Co. (NYSE:EQT) by 23.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 247,613 shares of the oil and gas producer’s stock after buying an additional 46,596 shares during the quarter. Kingsview Wealth Management LLC’s holdings in EQT were worth $9,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Great Valley Advisor Group Inc. acquired a new stake in EQT during the 3rd quarter valued at $209,000. Nicolet Advisory Services LLC acquired a new stake in EQT during the 3rd quarter valued at $207,000. Raymond James Trust N.A. increased its holdings in EQT by 27.2% during the 3rd quarter. Raymond James Trust N.A. now owns 14,264 shares of the oil and gas producer’s stock valued at $523,000 after purchasing an additional 3,050 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in EQT by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock valued at $183,678,000 after purchasing an additional 1,108,134 shares in the last quarter. Finally, Banco Santander S.A. acquired a new stake in EQT during the 3rd quarter valued at $527,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on EQT. BMO Capital Markets raised their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho increased their price objective on EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, September 26th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. Finally, Stephens increased their price objective on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.83.

EQT Stock Down 2.1 %

NYSE:EQT opened at $45.89 on Friday. The stock’s fifty day simple moving average is $38.20 and its 200-day simple moving average is $37.01. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $27.38 billion, a P/E ratio of 54.63 and a beta of 1.06. EQT Co. has a 12-month low of $30.02 and a 12-month high of $48.02.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. Equities research analysts expect that EQT Co. will post 1.35 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.37%. 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.