Empirical Finance LLC Acquires 821 Shares of EQT Co. (NYSE:EQT)

Empirical Finance LLC raised its stake in shares of EQT Co. (NYSE:EQT) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,440 shares of the oil and gas producer’s stock after purchasing an additional 821 shares during the quarter. Empirical Finance LLC’s holdings in EQT were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Modera Wealth Management LLC bought a new position in EQT in the third quarter valued at $562,494,000. Price T Rowe Associates Inc. MD raised its holdings in shares of EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares in the last quarter. Vanguard Group Inc. lifted its position in EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after buying an additional 3,942,802 shares during the last quarter. Canoe Financial LP purchased a new stake in EQT in the third quarter worth approximately $89,907,000. Finally, Merewether Investment Management LP bought a new position in EQT during the second quarter valued at approximately $69,452,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $42.71 on Friday. 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 $36.91 and a two-hundred day simple moving average of $36.81. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $44.28. The company has a market capitalization of $25.48 billion, a price-to-earnings ratio of 50.85 and a beta of 1.06.

EQT (NYSE:EQT) last announced 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 business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts expect that EQT Co. will post 1.28 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is 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%.

Analyst Upgrades and Downgrades

EQT has been the topic of several recent research reports. BMO Capital Markets increased their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley restated an “overweight” rating and set a $45.00 price target on shares of EQT in a research report on Friday, September 13th. Truist Financial lowered their price objective on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. UBS Group lifted their target price on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Mizuho increased their price target on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average 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.