Lewis Asset Management LLC Acquires 10,779 Shares of EQT Co. (NYSE:EQT)

Lewis Asset Management LLC grew its holdings in shares of EQT Co. (NYSE:EQT) by 106.1% in the third quarter, HoldingsChannel.com reports. The fund owned 20,939 shares of the oil and gas producer’s stock after purchasing an additional 10,779 shares during the period. Lewis Asset Management LLC’s holdings in EQT were worth $767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cetera Investment Advisers bought a new position in EQT in the first quarter valued at $2,274,000. UniSuper Management Pty Ltd raised its holdings 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in EQT by 17.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock worth $17,374,000 after buying an additional 70,325 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 in the last quarter. Finally, Swedbank AB bought a new position in EQT during the first quarter valued at approximately $4,073,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQT. Piper Sandler boosted their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday. Stephens boosted their price target on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com raised EQT to a “sell” rating in a research note on Friday, July 26th. Bank of America assumed coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Mizuho raised their price target on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.83.

EQT Trading Up 1.2 %

NYSE:EQT opened at $40.69 on Friday. The company has a 50-day moving average price of $35.56 and a 200-day moving average price of $36.64. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 48.44 and a beta of 1.06. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12 month low of $30.02 and a 12 month high of $42.44.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 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 business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business posted $0.30 earnings per share. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that EQT Co. will post 1.39 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.55%. EQT’s payout ratio is 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.