Private Management Group Inc. Invests $642,000 in EQT Co. (NYSE:EQT)

Private Management Group Inc. purchased a new position in shares of EQT Co. (NYSE:EQT) in the third quarter, HoldingsChannel reports. The firm purchased 17,520 shares of the oil and gas producer’s stock, valued at approximately $642,000.

A number of other hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in EQT by 3.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,034 shares of the oil and gas producer’s stock valued at $1,002,000 after acquiring an additional 932 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in EQT by 1.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 896,602 shares of the oil and gas producer’s stock valued at $33,237,000 after acquiring an additional 13,234 shares during the period. Norden Group LLC purchased a new position in EQT during the 1st quarter valued at about $401,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in EQT by 21.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,613 shares of the oil and gas producer’s stock valued at $3,319,000 after acquiring an additional 16,891 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in EQT by 2.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 118,482 shares of the oil and gas producer’s stock valued at $4,392,000 after acquiring an additional 2,594 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on EQT. StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. Mizuho reduced their price target on EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and increased their price target for the company from $37.00 to $44.00 in a research report on Thursday, October 3rd. BMO Capital Markets increased their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Scotiabank increased their price target on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.17.

EQT Trading Down 2.5 %

NYSE:EQT opened at $35.62 on Friday. The stock’s 50 day moving average price is $35.24 and its 200 day moving average price is $36.60. The company has a market capitalization of $15.73 billion, a PE ratio of 42.41 and a beta of 1.06. The company has a quick ratio of 0.73, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 52-week low of $30.02 and a 52-week high of $45.23.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. On average, research analysts anticipate that EQT Co. will post 1.42 EPS for the current year.

EQT Announces Dividend

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 paid 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 1.77%. EQT’s dividend payout ratio (DPR) is currently 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.