Wilmington Savings Fund Society FSB Buys Shares of 4,508 EQT Co. (NYSE:EQT)

Wilmington Savings Fund Society FSB purchased a new position in EQT Co. (NYSE:EQT) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,508 shares of the oil and gas producer’s stock, valued at approximately $165,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC increased its position in EQT by 104.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Bard Financial Services Inc. bought a new stake in shares of EQT in the 3rd quarter valued at approximately $878,000. TD Private Client Wealth LLC increased its holdings in EQT by 69.0% in the third quarter. TD Private Client Wealth LLC now owns 3,836 shares of the oil and gas producer’s stock worth $141,000 after buying an additional 1,566 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in EQT by 136.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 79,525 shares of the oil and gas producer’s stock valued at $2,914,000 after acquiring an additional 45,898 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in EQT by 154.0% in the third quarter. Toronto Dominion Bank now owns 316,518 shares of the oil and gas producer’s stock valued at $11,597,000 after acquiring an additional 191,892 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Down 3.8 %

Shares of EQT opened at $42.54 on Thursday. 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 company has a 50-day simple moving average of $41.41 and a 200-day simple moving average of $37.50. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The firm has a market capitalization of $25.38 billion, a P/E ratio of 50.64 and a beta of 1.14.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 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 firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts expect that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.48%. EQT’s dividend payout ratio is currently 75.00%.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup increased their price target on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their target price on EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Stephens upped their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $48.00 to $57.00 in a report on Monday. Finally, Truist Financial boosted their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $46.61.

EQT 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.