70,000 Shares in EQT Co. (NYSE:EQT) Acquired by Alight Capital Management LP

Alight Capital Management LP bought a new position in shares of EQT Co. (NYSE:EQT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 70,000 shares of the oil and gas producer’s stock, valued at approximately $2,234,000. EQT makes up 1.2% of Alight Capital Management LP’s investment portfolio, making the stock its 28th biggest holding.

Other large investors have also bought and sold shares of the company. Two Sigma Investments LP boosted its position in EQT by 6.3% during the 1st quarter. Two Sigma Investments LP now owns 2,539,120 shares of the oil and gas producer’s stock worth $81,023,000 after acquiring an additional 150,986 shares during the last quarter. Advisor Partners II LLC boosted its position in EQT by 29.0% during the 1st quarter. Advisor Partners II LLC now owns 29,930 shares of the oil and gas producer’s stock worth $955,000 after acquiring an additional 6,735 shares during the last quarter. Ensign Peak Advisors Inc boosted its position in EQT by 9.8% during the 1st quarter. Ensign Peak Advisors Inc now owns 108,740 shares of the oil and gas producer’s stock worth $3,470,000 after acquiring an additional 9,700 shares during the last quarter. ELCO Management Co. LLC boosted its position in EQT by 9.5% during the 1st quarter. ELCO Management Co. LLC now owns 36,800 shares of the oil and gas producer’s stock worth $1,174,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in EQT by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 491,719 shares of the oil and gas producer’s stock worth $15,691,000 after acquiring an additional 12,439 shares during the last quarter. 99.44% of the stock is owned by institutional investors.

EQT Trading Down 0.7 %

Shares of EQT stock traded down $0.28 during midday trading on Monday, reaching $42.20. The company had a trading volume of 1,776,613 shares, compared to its average volume of 6,361,614. EQT Co. has a fifty-two week low of $28.10 and a fifty-two week high of $51.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $41.64 and a 200 day moving average price of $36.85. The firm has a market cap of $15.26 billion, a PE ratio of 4.78, a P/E/G ratio of 1.06 and a beta of 1.22.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.09. EQT had a return on equity of 10.61% and a net margin of 38.44%. The firm had revenue of $993.08 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. The company’s revenue was down 38.4% compared to the same quarter last year. On average, equities analysts anticipate that EQT Co. will post 2.04 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, August 8th. EQT’s payout ratio is 6.75%.

Analyst Ratings Changes

EQT has been the topic of a number of research analyst reports. StockNews.com began coverage on EQT in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial increased their price objective on EQT from $35.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday. Jefferies Financial Group increased their price objective on EQT from $46.00 to $49.00 in a research report on Friday, July 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price objective on shares of EQT in a research report on Wednesday, August 23rd. Finally, Morgan Stanley raised their price target on EQT from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.00.

About EQT

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.