EQT Co. (NYSE:EQT) Shares Acquired by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC boosted its holdings in shares of EQT Co. (NYSE:EQT) by 27.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,000 shares of the oil and gas producer’s stock after acquiring an additional 1,500 shares during the period. Chickasaw Capital Management LLC’s holdings in EQT were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in EQT by 22.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares during the period. Vanguard Group Inc. lifted its holdings in shares of EQT by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after acquiring an additional 3,942,802 shares in the last quarter. Bank of New York Mellon Corp boosted its position in EQT by 2.3% during 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 period. Wellington Management Group LLP increased its holdings in EQT by 3.2% in the 4th quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock valued at $785,580,000 after purchasing an additional 632,625 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in EQT by 2.9% in the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after purchasing an additional 253,186 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EQT shares. Stephens dropped their target price on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Truist Financial reduced their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Piper Sandler lowered shares of EQT from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. BMO Capital Markets increased their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $42.18.

EQT Stock Performance

EQT stock traded up $0.79 during midday trading on Friday, reaching $37.41. 5,047,030 shares of the stock traded hands, compared to its average volume of 7,128,589. The firm has a fifty day moving average price of $33.79 and a two-hundred day moving average price of $36.61. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $45.23. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of 27.11 and a beta of 1.06. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. The firm had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, equities research analysts forecast that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio is currently 45.65%.

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.