Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in EQT Co. (NYSE:EQT)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in EQT Co. (NYSE:EQT) by 70.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 155,717 shares of the oil and gas producer’s stock after purchasing an additional 64,314 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in EQT were worth $5,758,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of EQT by 4.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 140,530 shares of the oil and gas producer’s stock worth $5,195,000 after acquiring an additional 5,755 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of EQT by 4.5% during the 2nd quarter. Whittier Trust Co. now owns 263,381 shares of the oil and gas producer’s stock worth $9,737,000 after acquiring an additional 11,303 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of EQT during the 2nd quarter worth about $230,000. Miller Howard Investments Inc. NY boosted its stake in shares of EQT by 2.2% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 39,894 shares of the oil and gas producer’s stock worth $1,475,000 after acquiring an additional 871 shares in the last quarter. Finally, Railway Pension Investments Ltd boosted its stake in shares of EQT by 16.6% during the 2nd quarter. Railway Pension Investments Ltd now owns 1,511,500 shares of the oil and gas producer’s stock worth $55,895,000 after acquiring an additional 215,300 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Trading Down 0.5 %

Shares of NYSE EQT traded down $0.18 during midday trading on Friday, reaching $33.33. 1,348,491 shares of the stock were exchanged, compared to its average volume of 7,114,241. The company has a 50 day simple moving average of $34.55 and a 200 day simple moving average of $36.74. The stock has a market capitalization of $14.72 billion, a P/E ratio of 24.28 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. As a group, equities analysts expect that EQT Co. will post 1.4 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.89%. EQT’s payout ratio is currently 45.65%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EQT. BMO Capital Markets increased their target price on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Truist Financial reduced their price target on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Scotiabank upped their price target on shares of EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Friday, July 26th. Finally, Wolfe Research started coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, EQT currently has a consensus rating of “Hold” and an average target price of $44.67.

EQT 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.