Kimelman & Baird LLC Acquires New Holdings in EQT Co. (NYSE:EQT)

Kimelman & Baird LLC bought a new position in shares of EQT Co. (NYSE:EQT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,375 shares of the oil and gas producer’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Davis Investment Partners LLC increased its stake in shares of EQT by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after purchasing an additional 317 shares in the last quarter. J.W. Cole Advisors Inc. increased 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 worth $224,000 after buying an additional 421 shares in the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of EQT by 1.4% in the second quarter. SeaBridge Investment Advisors LLC now owns 30,792 shares of the oil and gas producer’s stock worth $1,139,000 after acquiring an additional 431 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of EQT by 8.4% in the second quarter. Ballentine Partners LLC now owns 6,291 shares of the oil and gas producer’s stock valued at $233,000 after acquiring an additional 486 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its stake in shares of EQT by 65.5% during the second quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 2.5 %

Shares of NYSE:EQT opened at $43.33 on Friday. The stock has a 50-day simple moving average of $40.22 and a 200-day simple moving average of $37.29. The stock has a market capitalization of $25.85 billion, a P/E ratio of 51.58 and a beta of 1.14. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

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

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.45%. The ex-dividend date was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Insiders Place Their Bets

In related news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on EQT. JPMorgan Chase & Co. boosted their target price on shares of EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America began coverage on shares of EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price for the company. Truist Financial increased 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, Sanford C. Bernstein started coverage on EQT in a report on Friday. They set a “market perform” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.11.

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.