United Services Automobile Association Buys 5,499 Shares of EQT Co. (NYSE:EQT)

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United Services Automobile Association increased its stake in EQT Co. (NYSE:EQT) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,808 shares of the oil and gas producer’s stock after buying an additional 5,499 shares during the period. United Services Automobile Association’s holdings in EQT were worth $708,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Hilton Capital Management LLC bought a new position in EQT in the first quarter worth about $65,000. Westwood Holdings Group Inc. grew its holdings in EQT by 33.4% in the first quarter. Westwood Holdings Group Inc. now owns 12,445 shares of the oil and gas producer’s stock worth $258,000 after purchasing an additional 3,115 shares during the period. Invesco Ltd. grew its holdings in EQT by 158.6% in the second quarter. Invesco Ltd. now owns 742,207 shares of the oil and gas producer’s stock worth $11,734,000 after purchasing an additional 455,236 shares during the period. Dynamic Capital Management Ltd purchased a new stake in EQT in the second quarter worth about $255,000. Finally, M&T Bank Corp grew its holdings in EQT by 17.1% in the second quarter. M&T Bank Corp now owns 12,936 shares of the oil and gas producer’s stock worth $206,000 after purchasing an additional 1,885 shares during the period. 97.01% of the stock is owned by institutional investors.

NYSE:EQT opened at $9.66 on Friday. The company’s 50 day moving average price is $10.79 and its 200-day moving average price is $15.82. EQT Co. has a 52 week low of $9.06 and a 52 week high of $26.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 1.13 and a beta of 0.64.

EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.13. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. The firm had revenue of $958.40 million for the quarter, compared to analysts’ expectations of $929.86 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that EQT Co. will post 0.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 8th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, November 7th. EQT’s payout ratio is 7.06%.

A number of brokerages have weighed in on EQT. Wells Fargo & Co cut their price objective on shares of EQT from $29.00 to $27.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Morgan Stanley cut their price objective on shares of EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, July 26th. ValuEngine upgraded shares of EQT from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, TD Securities cut their price objective on shares of EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $30.70.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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