Cerity Partners LLC Buys 29,685 Shares of EQT Corporation (NYSE:EQT)

Cerity Partners LLC lifted its stake in EQT Corporation (NYSE:EQT) by 85.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,224 shares of the oil and gas producer’s stock after buying an additional 29,685 shares during the period. Cerity Partners LLC’s holdings in EQT were worth $3,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of EQT in the 4th quarter worth approximately $244,000. Aviva PLC bought a new position in EQT in the 4th quarter valued at $14,719,000. Axxcess Wealth Management LLC boosted its stake in EQT by 7.0% in the first quarter. Axxcess Wealth Management LLC now owns 6,661 shares of the oil and gas producer’s stock worth $356,000 after purchasing an additional 434 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in EQT in the first quarter worth $226,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of EQT by 101.8% during the first quarter. Exchange Traded Concepts LLC now owns 9,039 shares of the oil and gas producer’s stock worth $483,000 after purchasing an additional 4,559 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Stock Up 0.8%

Shares of NYSE EQT opened at $59.20 on Friday. EQT Corporation has a 52-week low of $30.02 and a 52-week high of $61.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $35.45 billion, a P/E ratio of 103.86, a P/E/G ratio of 0.38 and a beta of 0.65. The firm has a 50 day moving average price of $56.63 and a 200 day moving average price of $52.86.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. EQT had a net margin of 6.59% and a return on equity of 5.52%. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT’s payout ratio is currently 110.53%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $66.00 price target (up from $62.00) on shares of EQT in a report on Friday, July 11th. Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Mizuho upgraded shares of EQT to an “outperform” rating and set a $66.00 target price on the stock in a research report on Tuesday, July 8th. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, April 8th. Finally, Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.63.

EQT 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.