Kingsview Wealth Management LLC Has $9.07 Million Stock Position in EQT Co. (NYSE:EQT)

Kingsview Wealth Management LLC boosted its holdings in shares of EQT Co. (NYSE:EQT) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 247,613 shares of the oil and gas producer’s stock after buying an additional 46,596 shares during the period. Kingsview Wealth Management LLC’s holdings in EQT were worth $9,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in EQT by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after purchasing an additional 464,781 shares during the last quarter. Modera Wealth Management LLC acquired a new position in EQT in the 3rd quarter worth about $562,494,000. Clearbridge Investments LLC increased its position in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after purchasing an additional 253,186 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in EQT by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after purchasing an additional 1,108,134 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in EQT by 19.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,224,784 shares of the oil and gas producer’s stock worth $156,243,000 after purchasing an additional 697,824 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Down 2.1 %

EQT stock opened at $45.89 on Friday. The business has a 50 day moving average price of $38.20 and a two-hundred day moving average price of $37.01. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 54.63 and a beta of 1.06. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02.

EQT (NYSE:EQT) last posted its quarterly 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. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, equities analysts forecast that EQT Co. will post 1.35 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.37%. EQT’s payout ratio is presently 75.00%.

Analysts Set New Price Targets

EQT has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Bank of America initiated coverage on EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price target for the company. Piper Sandler upped their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Finally, Mizuho upped their price target on EQT from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. One investment 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.83.

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.