Modera Wealth Management LLC Makes New $562.49 Million Investment in EQT Co. (NYSE:EQT)

Modera Wealth Management LLC bought a new position in shares of EQT Co. (NYSE:EQT) during the third quarter, HoldingsChannel.com reports. The firm bought 15,351,924 shares of the oil and gas producer’s stock, valued at approximately $562,494,000. EQT accounts for approximately 7.2% of Modera Wealth Management LLC’s portfolio, making the stock its biggest position.

Other hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC lifted its position in shares of EQT by 3.8% during the 1st quarter. Park Avenue Securities LLC now owns 8,153 shares of the oil and gas producer’s stock valued at $302,000 after acquiring an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in EQT by 3.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,034 shares of the oil and gas producer’s stock worth $1,002,000 after buying an additional 932 shares in the last quarter. Guidance Capital Inc. increased its holdings in EQT by 3.7% in the 1st quarter. Guidance Capital Inc. now owns 17,905 shares of the oil and gas producer’s stock valued at $654,000 after buying an additional 637 shares during the period. Founders Financial Securities LLC increased its holdings in EQT by 9.2% in the 1st quarter. Founders Financial Securities LLC now owns 8,204 shares of the oil and gas producer’s stock valued at $304,000 after buying an additional 690 shares during the period. Finally, SteelPeak Wealth LLC lifted its holdings in shares of EQT by 116.3% during the 1st quarter. SteelPeak Wealth LLC now owns 57,527 shares of the oil and gas producer’s stock worth $2,133,000 after acquiring an additional 30,927 shares during the period. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 1.4 %

Shares of EQT traded up $0.52 during mid-day trading on Friday, reaching $37.48. 6,633,652 shares of the company were exchanged, compared to its average volume of 7,034,294. The business has a 50 day simple moving average of $34.87 and a two-hundred day simple moving average of $36.61. EQT Co. has a 52 week low of $30.02 and a 52 week high of $45.23. The stock has a market capitalization of $16.55 billion, a PE ratio of 27.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts predict that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on EQT. Mizuho decreased their price objective on shares of EQT from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. UBS Group lowered their price target on EQT from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. StockNews.com raised EQT to a “sell” rating in a research note on Friday, July 26th. Truist Financial lowered 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, Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.18.

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.