Paloma Partners Management Co Takes $39.09 Million Position in EQT Co. (NYSE:EQT)

Paloma Partners Management Co bought a new stake in shares of EQT Co. (NYSE:EQT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,066,878 shares of the oil and gas producer’s stock, valued at approximately $39,090,000. EQT comprises 1.1% of Paloma Partners Management Co’s investment portfolio, making the stock its 6th largest holding. Paloma Partners Management Co owned about 0.18% of EQT as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Davis Investment Partners LLC raised its position in EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock valued at $1,137,000 after buying an additional 317 shares during the period. J.W. Cole Advisors Inc. raised its position in EQT by 7.4% during the third quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 421 shares during the period. SeaBridge Investment Advisors LLC raised its position in EQT by 1.4% during the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock valued at $1,139,000 after buying an additional 431 shares during the period. Massmutual Trust Co. FSB ADV raised its position in EQT by 40.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 434 shares during the period. Finally, Ballentine Partners LLC raised its position in EQT by 8.4% during the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after buying an additional 486 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of EQT stock opened at $45.44 on Monday. The stock has a 50 day moving average of $39.35 and a two-hundred day moving average of $37.15. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a market capitalization of $27.11 billion, a P/E ratio of 54.10 and a beta of 1.06.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned $0.30 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that EQT Co. will post 1.36 EPS for the current year.

EQT Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQT shares. Morgan Stanley upped their target price on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Wells Fargo & Company upped their target price on EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. BMO Capital Markets upped their target price on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Truist Financial upped their price target on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Finally, Citigroup upgraded EQT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.