EQT Co. (NYSE:EQT) Shares Bought by SIR Capital Management L.P.

SIR Capital Management L.P. lifted its stake in shares of EQT Co. (NYSE:EQT) by 3,723.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 772,400 shares of the oil and gas producer’s stock after purchasing an additional 752,200 shares during the period. EQT accounts for about 2.8% of SIR Capital Management L.P.’s portfolio, making the stock its 8th largest holding. SIR Capital Management L.P. owned approximately 0.17% of EQT worth $28,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its holdings in EQT by 12.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 51,407 shares of the oil and gas producer’s stock valued at $1,901,000 after purchasing an additional 5,529 shares during the last quarter. Choreo LLC acquired a new position in EQT during the 2nd quarter worth about $658,000. Ballentine Partners LLC boosted its stake in shares of EQT by 8.4% in the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after purchasing an additional 486 shares during the period. Savant Capital LLC grew its stake in shares of EQT by 940.4% in the second quarter. Savant Capital LLC now owns 60,654 shares of the oil and gas producer’s stock worth $2,243,000 after acquiring an additional 54,824 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC purchased a new stake in EQT during the 2nd quarter worth about $229,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQT. Citigroup restated a “neutral” rating and issued a $37.00 target price on shares of EQT in a report on Friday, August 23rd. Mizuho raised their price objective on shares of EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Wolfe Research initiated coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price on the stock. Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. upgraded shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.35.

EQT Stock Performance

NYSE EQT opened at $31.91 on Tuesday. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23. The firm’s fifty day moving average price is $33.89 and its two-hundred day moving average price is $36.67. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $14.09 billion, a P/E ratio of 23.12 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. The firm 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 period in the previous year, the firm posted ($0.17) earnings per share. As a group, research analysts anticipate that EQT Co. will post 1.43 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.97%. EQT’s dividend payout ratio (DPR) is currently 45.65%.

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.