HITE Hedge Asset Management LLC Purchases 7,285 Shares of EQT Co. (NYSE:EQT)

by · The Markets Daily

HITE Hedge Asset Management LLC increased its stake in EQT Co. (NYSE:EQT – Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,877 shares of the oil and gas producer’s stock after acquiring an additional 7,285 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in EQT were worth $5,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. HM Payson & Co. purchased a new position in EQT in the 3rd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in EQT in the 2nd quarter valued at $28,000. Truvestments Capital LLC bought a new stake in shares of EQT in the third quarter valued at about $30,000. Hexagon Capital Partners LLC increased its stake in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of EQT during the third quarter worth $36,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 2.0 %

EQT stock opened at $44.53 on Tuesday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $39.53 and a two-hundred day moving average of $37.18. The company has a market cap of $26.57 billion, a price-to-earnings ratio of 53.01 and a beta of 1.14.

EQT (NYSE:EQT – Get Free Report) last released 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. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, analysts forecast that EQT Co. will post 1.36 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Wednesday, November 6th. EQT’s payout ratio is 75.00%.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of recent research reports. Mizuho upped their price target on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Bank of America initiated coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. lifted 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. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, Piper Sandler lifted their price target on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

Read Our Latest Stock Analysis on EQT

EQT Profile

(Free Report)

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.

See Also

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