Hexagon Capital Partners LLC Buys 904 Shares of EQT Co. (NYSE:EQT)

Hexagon Capital Partners LLC raised its stake in EQT Co. (NYSE:EQT) by 18,080.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 909 shares of the oil and gas producer’s stock after purchasing an additional 904 shares during the period. Hexagon Capital Partners LLC’s holdings in EQT were worth $33,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in EQT in the 1st quarter valued at $2,274,000. Vanguard Group Inc. boosted its holdings in EQT by 4.5% in the 4th quarter. Vanguard Group Inc. now owns 46,922,862 shares of the oil and gas producer’s stock valued at $1,814,038,000 after purchasing an additional 2,023,222 shares during the period. UniSuper Management Pty Ltd boosted its holdings in EQT by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 24,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in EQT by 17.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 468,677 shares of the oil and gas producer’s stock valued at $17,374,000 after purchasing an additional 70,325 shares during the period. Finally, Swedbank AB bought a new stake in EQT in the 1st quarter valued at $4,073,000. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

EQT opened at $37.41 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The company’s 50 day simple moving average is $33.67 and its 200-day simple moving average is $36.59. EQT Co. has a one year low of $30.02 and a one year high of $45.23. The stock has a market capitalization of $16.52 billion, a P/E ratio of 27.11 and a beta of 1.06.

EQT (NYSE:EQT) last released its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. Sell-side analysts anticipate that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.68%. EQT’s payout ratio is presently 45.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EQT shares. Truist Financial reduced their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a report on Monday, July 22nd. UBS Group reduced their price objective on shares of EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price objective on shares of EQT in a report on Friday, September 13th. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised shares of EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $40.00 to $42.00 in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.18.

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.