Clearline Capital LP Makes New $4.87 Million Investment in EQT Co. (NYSE:EQT)

Clearline Capital LP acquired a new stake in shares of EQT Co. (NYSE:EQT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 132,955 shares of the oil and gas producer’s stock, valued at approximately $4,871,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQT. Concentric Capital Strategies LP bought a new stake in EQT in the 3rd quarter valued at $7,517,000. Benjamin Edwards Inc. boosted its stake in EQT by 32,157.1% during the third quarter. Benjamin Edwards Inc. now owns 6,774 shares of the oil and gas producer’s stock valued at $248,000 after buying an additional 6,753 shares during the last quarter. Atom Investors LP purchased a new position in EQT during the 3rd quarter valued at approximately $5,331,000. Paloma Partners Management Co bought a new stake in EQT in the 3rd quarter worth approximately $39,090,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of EQT by 17.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,281 shares of the oil and gas producer’s stock worth $3,454,000 after acquiring an additional 14,089 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

EQT has been the topic of several research reports. Truist Financial boosted their price target on shares of EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Mizuho lifted their price target on EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. UBS Group upped their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.67.

EQT Trading Up 0.4 %

Shares of EQT opened at $45.44 on Monday. The firm has a market capitalization of $27.11 billion, a price-to-earnings ratio of 54.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a 1-year low of $30.02 and a 1-year high of $48.02. The company has a 50-day moving average of $39.35 and a 200 day moving average of $37.15.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, research analysts expect that EQT Co. will post 1.36 EPS for the current year.

EQT Dividend Announcement

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

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.