Whalen Wealth Management Inc. Acquires 17,353 Shares of EQT Co. (NYSE:EQT)

Whalen Wealth Management Inc. boosted its holdings in shares of EQT Co. (NYSE:EQT) by 153.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,696 shares of the oil and gas producer’s stock after buying an additional 17,353 shares during the quarter. EQT makes up about 0.7% of Whalen Wealth Management Inc.’s investment portfolio, making the stock its 27th largest holding. Whalen Wealth Management Inc.’s holdings in EQT were worth $1,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its stake in shares of EQT by 19.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,284 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 1,172 shares in the last quarter. Intech Investment Management LLC increased its position in EQT by 80.1% in the first quarter. Intech Investment Management LLC now owns 28,949 shares of the oil and gas producer’s stock worth $1,073,000 after buying an additional 12,871 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of EQT by 8.4% in the first quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after buying an additional 3,942,802 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of EQT by 563.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after buying an additional 24,713 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of EQT by 47.3% during the 1st quarter. Bessemer Group Inc. now owns 44,518 shares of the oil and gas producer’s stock valued at $1,650,000 after acquiring an additional 14,301 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

NYSE:EQT opened at $44.28 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s fifty day moving average is $36.91 and its 200 day moving average is $36.77. The firm has a market capitalization of $26.42 billion, a PE ratio of 52.71 and a beta of 1.06. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $44.62.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business earned $0.30 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that EQT Co. will post 1.28 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.42%. EQT’s payout ratio is 75.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on EQT. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. Truist Financial dropped their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. StockNews.com upgraded EQT to a “sell” rating in a research report on Friday, July 26th. Mizuho increased their target price on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, BMO Capital Markets upped their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

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.