Castle Hook Partners LP Makes New $48.82 Million Investment in EQT Co. (NYSE:EQT)

Castle Hook Partners LP acquired a new position in EQT Co. (NYSE:EQT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,332,339 shares of the oil and gas producer’s stock, valued at approximately $48,817,000. EQT makes up about 0.9% of Castle Hook Partners LP’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. HM Payson & Co. bought a new stake in EQT in the 3rd quarter worth about $25,000. Innealta Capital LLC bought a new stake in EQT in the 2nd quarter worth about $28,000. Truvestments Capital LLC bought a new position in shares of EQT during the 3rd quarter valued at approximately $30,000. Hexagon Capital Partners LLC grew its position in shares of 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 valued at $33,000 after acquiring an additional 904 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of EQT during the 3rd quarter valued at approximately $36,000. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EQT has been the subject of a number of research reports. Mizuho increased their target price on shares of EQT from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial increased their target price on shares of EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and increased their target price for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. Bank of America began coverage on shares of EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Finally, UBS Group upped their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One 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, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $44.67.

EQT Price Performance

EQT stock opened at $45.29 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The firm’s fifty day moving average is $38.93 and its 200 day moving average is $37.11. The firm has a market cap of $27.02 billion, a P/E ratio of 53.92 and a beta of 1.06.

EQT (NYSE:EQT) last released its 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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts predict that EQT Co. will post 1.38 earnings per share for the current year.

EQT Announces Dividend

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

About EQT

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.