Soros Fund Management LLC Acquires New Shares in EQT Co. (NYSE:EQT)

Soros Fund Management LLC acquired a new stake in shares of EQT Co. (NYSE:EQT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 47,023 shares of the oil and gas producer’s stock, valued at approximately $1,723,000.

A number of other hedge funds also recently bought and sold shares of EQT. State Street Corp raised its holdings in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Bank of New York Mellon Corp raised its stake in shares of EQT by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after buying an additional 464,781 shares during the period. Modera Wealth Management LLC purchased a new position in shares of EQT during the 3rd quarter valued at about $562,494,000. Clearbridge Investments LLC increased its holdings in EQT by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after acquiring an additional 253,186 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in EQT by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after acquiring an additional 1,108,134 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EQT. Stephens raised their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets upped their price target on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their price objective on shares of EQT from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.83.

EQT Stock Down 0.5 %

Shares of NYSE EQT opened at $44.45 on Friday. The company has a market cap of $26.52 billion, a P/E ratio of 52.92 and a beta of 1.14. The firm has a 50-day simple moving average of $40.08 and a two-hundred day simple moving average of $37.31. 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 current ratio of 0.51 and a quick ratio of 0.51.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.42%. EQT’s payout ratio is currently 75.00%.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

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.