AGF Investments LLC Acquires 6,281 Shares of EQT Co. (NYSE:EQT)

AGF Investments LLC lifted its holdings in EQT Co. (NYSE:EQT) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,326 shares of the oil and gas producer’s stock after buying an additional 6,281 shares during the period. AGF Investments LLC’s holdings in EQT were worth $723,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EQT. Fifth Third Bancorp increased its holdings in shares of EQT by 6,854.3% in the 3rd quarter. Fifth Third Bancorp now owns 4,868 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 4,798 shares during the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of EQT by 165.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 4,987 shares of the oil and gas producer’s stock worth $102,000 after buying an additional 3,105 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of EQT in the 2nd quarter worth about $104,000. Rockefeller Capital Management L.P. increased its holdings in shares of EQT by 11.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 5,529 shares of the oil and gas producer’s stock worth $122,000 after buying an additional 571 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of EQT in the 2nd quarter worth about $156,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Shares of EQT opened at $23.79 on Friday. The company has a 50 day moving average price of $21.41 and a 200-day moving average price of $20.35. EQT Co. has a fifty-two week low of $15.35 and a fifty-two week high of $24.83. The stock has a market capitalization of $8.99 billion, a PE ratio of -2.70, a PEG ratio of 0.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.46 and a current ratio of 0.46.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 26th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.17. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company posted ($0.15) EPS. Equities research analysts forecast that EQT Co. will post 1.03 EPS for the current year.

EQT announced that its board has approved a share buyback plan on Monday, December 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the oil and gas producer to reacquire up to 13.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Several brokerages recently commented on EQT. Morgan Stanley upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $24.00 to $31.00 in a report on Friday, November 19th. JPMorgan Chase & Co. upgraded shares of EQT from a “neutral” rating to an “overweight” rating and set a $31.00 price target on the stock in a report on Friday, October 29th. They noted that the move was a valuation call. Truist Securities cut their price target on shares of EQT from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Friday. Truist cut their price target on shares of EQT from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Friday. Finally, Mizuho upped their price target on shares of EQT from $29.00 to $35.00 and gave the company a “buy” rating in a report on Monday, October 18th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $27.91.

About EQT

EQT Corp. engages in natural gas production, gathering and transmission in the Appalachian area. It has operations in Marcellus and Utica Shales of the Appalachian Basin. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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