Rhumbline Advisers Boosts Stake in EQT Corporation $EQT

Rhumbline Advisers increased its holdings in shares of EQT Corporation (NYSE:EQT) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,108,307 shares of the oil and gas producer’s stock after acquiring an additional 49,714 shares during the period. Rhumbline Advisers owned approximately 0.18% of EQT worth $60,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EQT. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of EQT during the 2nd quarter worth $41,000. Anchor Investment Management LLC boosted its holdings in EQT by 133.3% during the second quarter. Anchor Investment Management LLC now owns 875 shares of the oil and gas producer’s stock worth $51,000 after buying an additional 500 shares in the last quarter. Private Trust Co. NA boosted its holdings in EQT by 38.1% during the second quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 283 shares in the last quarter. Quent Capital LLC acquired a new position in EQT during the third quarter worth about $94,000. Finally, Cullen Frost Bankers Inc. acquired a new position in EQT during the second quarter worth about $110,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EQT. JPMorgan Chase & Co. decreased their price target on EQT from $64.00 to $58.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Piper Sandler raised their price objective on EQT from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded EQT from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Wells Fargo & Company lowered their target price on EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Finally, Siebert Williams Shank raised their price target on EQT from $59.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Nineteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.27.

EQT Price Performance

EQT stock opened at $57.26 on Friday. The stock’s 50 day moving average price is $54.54 and its 200 day moving average price is $54.29. The firm has a market cap of $35.73 billion, a P/E ratio of 19.61, a PEG ratio of 0.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.58 and a current ratio of 0.58. EQT Corporation has a 1 year low of $43.57 and a 1 year high of $62.23.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s payout ratio is presently 22.60%.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.