Truvestments Capital LLC Purchases Shares of 816 EQT Co. (NYSE:EQT)

Truvestments Capital LLC acquired a new stake in shares of EQT Co. (NYSE:EQT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 816 shares of the oil and gas producer’s stock, valued at approximately $30,000.

Other institutional investors have also recently made changes to their positions in the company. Davis Investment Partners LLC increased its position in EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after acquiring an additional 317 shares during the last quarter. Hancock Whitney Corp grew its holdings in EQT by 3.0% during the 1st quarter. Hancock Whitney Corp now owns 14,603 shares of the oil and gas producer’s stock valued at $541,000 after purchasing an additional 419 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in EQT by 7.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after purchasing an additional 421 shares during the period. SeaBridge Investment Advisors LLC lifted its stake in EQT by 1.4% in the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock worth $1,139,000 after purchasing an additional 431 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in EQT by 40.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 434 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Down 0.6 %

NYSE:EQT opened at $45.28 on Friday. The stock has a market capitalization of $27.02 billion, a price-to-earnings ratio of 53.91 and a beta of 1.06. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. 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 50 day moving average of $39.14 and a 200 day moving average of $37.16.

EQT (NYSE:EQT) last issued its quarterly earnings data 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. The firm had revenue of $1.28 billion during 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 business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 EPS. As a group, sell-side analysts anticipate that EQT Co. will post 1.38 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EQT shares. JPMorgan Chase & Co. increased their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Morgan Stanley lifted their target price on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday. Stephens upped their price target on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Bank of America started coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. Finally, BMO Capital Markets raised their target price on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $44.67.

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.