5,459 Shares in EQT Co. (NYSE:EQT) Purchased by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. acquired a new position in EQT Co. (NYSE:EQT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,459 shares of the oil and gas producer’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQT. Raymond James Financial Services Advisors Inc. grew its holdings in EQT by 12.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock worth $1,079,000 after purchasing an additional 3,541 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of EQT during the first quarter valued at approximately $96,000. Great West Life Assurance Co. Can grew its holdings in shares of EQT by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock valued at $5,891,000 after buying an additional 12,466 shares during the last quarter. Raymond James Trust N.A. purchased a new stake in shares of EQT during the first quarter valued at approximately $539,000. Finally, Blair William & Co. IL purchased a new stake in shares of EQT during the first quarter valued at approximately $329,000. Hedge funds and other institutional investors own 99.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQT. Tudor Pickering upgraded shares of EQT from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Financial Group increased their price target on shares of EQT from $46.00 to $49.00 in a report on Friday, July 7th. Wells Fargo & Company increased their price target on shares of EQT from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, September 1st. UBS Group cut their price target on shares of EQT from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 31st. Finally, Tudor, Pickering, Holt & Co. upgraded shares of EQT from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Activity

In other news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.40, for a total transaction of $828,000,000.00. Following the sale, the insider now directly owns 23,946,108 shares in the company, valued at approximately $991,368,871.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

EQT Stock Performance

EQT traded down $1.06 during trading on Friday, hitting $41.53. The company’s stock had a trading volume of 7,924,220 shares, compared to its average volume of 6,348,618. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.35. EQT Co. has a one year low of $28.10 and a one year high of $48.07. The firm has a market cap of $15.02 billion, a PE ratio of 4.67, a P/E/G ratio of 1.10 and a beta of 1.22. The business’s 50 day simple moving average is $41.88 and its 200-day simple moving average is $37.15.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 25th. The oil and gas producer reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.09. The firm had revenue of $993.08 million for the quarter, compared to the consensus estimate of $1.01 billion. EQT had a net margin of 38.44% and a return on equity of 10.61%. The company’s revenue was down 38.4% on a year-over-year basis. During the same period last year, the firm earned $0.83 EPS. As a group, sell-side analysts predict that EQT Co. will post 2.01 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.44%. EQT’s payout ratio is 6.75%.

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.