NINE MASTS CAPITAL Ltd Takes Position in EQT Co. (NYSE:EQT)

NINE MASTS CAPITAL Ltd purchased a new position in shares of EQT Co. (NYSE:EQT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,000 shares of the oil and gas producer’s stock, valued at approximately $296,000.

Several other large investors have also bought and sold shares of the business. HHM Wealth Advisors LLC bought a new stake in EQT in the second quarter valued at about $78,000. Brasada Capital Management LP grew its position in shares of EQT by 50.0% during the 2nd quarter. Brasada Capital Management LP now owns 12,000 shares of the oil and gas producer’s stock worth $446,000 after buying an additional 4,000 shares during the period. SIR Capital Management L.P. increased its stake in shares of EQT by 3,723.8% in the 2nd quarter. SIR Capital Management L.P. now owns 772,400 shares of the oil and gas producer’s stock valued at $28,563,000 after acquiring an additional 752,200 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of EQT by 12.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 51,407 shares of the oil and gas producer’s stock valued at $1,901,000 after acquiring an additional 5,529 shares during the period. Finally, Choreo LLC bought a new position in EQT during the 2nd quarter worth approximately $658,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

NYSE EQT opened at $32.88 on Thursday. The firm’s 50 day moving average is $33.71 and its 200-day moving average is $36.60. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $14.52 billion, a PE ratio of 23.83 and a beta of 1.06. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned ($0.17) EPS. The company’s revenue was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that EQT Co. will post 1.43 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 annualized dividend and a yield of 1.92%. EQT’s payout ratio is presently 45.65%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $43.00 to $32.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. upgraded EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a report on Tuesday, July 23rd. Truist Financial decreased their target price on EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Wolfe Research initiated coverage on EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, EQT currently has an average rating of “Hold” and a consensus price target of $44.35.

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.