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

Private Management Group Inc. purchased a new stake in shares of EQT Co. (NYSE:EQT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,520 shares of the oil and gas producer’s stock, valued at approximately $642,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital Advisors Inc. OK bought a new stake in EQT during the third quarter valued at about $25,791,000. Stephens Inc. AR boosted its position in EQT by 63.8% during the third quarter. Stephens Inc. AR now owns 14,395 shares of the oil and gas producer’s stock valued at $527,000 after purchasing an additional 5,608 shares in the last quarter. Cigna Investments Inc. New bought a new stake in EQT during the third quarter valued at about $218,000. US Bancorp DE boosted its position in EQT by 59.3% during the third quarter. US Bancorp DE now owns 35,174 shares of the oil and gas producer’s stock valued at $1,289,000 after purchasing an additional 13,090 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in EQT during the third quarter valued at about $25,000. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of several recent analyst reports. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Mizuho lowered their price target on EQT from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Citigroup raised EQT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Finally, BMO Capital Markets raised their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.17.

EQT Stock Down 2.5 %

Shares of NYSE:EQT opened at $35.62 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $35.24 and a two-hundred day moving average of $36.60. The stock has a market cap of $15.73 billion, a P/E ratio of 42.41 and a beta of 1.06. EQT Co. has a 52-week low of $30.02 and a 52-week high of $45.23.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The company 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 firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. On average, research analysts expect that EQT Co. will post 1.42 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is presently 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.