Paloma Partners Management Co Purchases New Shares in EQT Co. (NYSE:EQT)

Paloma Partners Management Co purchased a new stake in shares of EQT Co. (NYSE:EQT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,066,878 shares of the oil and gas producer’s stock, valued at approximately $39,090,000. EQT makes up about 1.1% of Paloma Partners Management Co’s investment portfolio, making the stock its 6th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. HM Payson & Co. acquired a new stake in shares of EQT in the 3rd quarter valued at $25,000. Innealta Capital LLC acquired a new stake in shares of EQT in the 2nd quarter valued at $28,000. Truvestments Capital LLC acquired a new stake in shares of EQT in the 3rd quarter valued at $30,000. Hexagon Capital Partners LLC increased its stake in shares of EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 904 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of EQT in the 3rd quarter worth $36,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

EQT opened at $45.44 on Monday. The business’s 50-day moving average price is $39.35 and its two-hundred day moving average price is $37.15. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02. The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 54.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities analysts expect that EQT Co. will post 1.36 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 6th. EQT’s dividend payout ratio is currently 75.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Truist Financial raised their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Stephens raised their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on EQT from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, UBS Group lifted their target price on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.67.

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.