Perigon Wealth Management LLC Has $559,000 Stock Position in EQT Co. (NYSE:EQT)

Perigon Wealth Management LLC lifted its stake in shares of EQT Co. (NYSE:EQT) by 2.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,471 shares of the oil and gas producer’s stock after purchasing an additional 303 shares during the quarter. Perigon Wealth Management LLC’s holdings in EQT were worth $559,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EQT. Laurel Wealth Advisors LLC bought a new position in shares of EQT during the second quarter valued at $33,000. BKM Wealth Management LLC bought a new stake in shares of EQT in the 4th quarter valued at about $40,000. Belpointe Asset Management LLC grew its position in shares of EQT by 270.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 918 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of EQT in the second quarter valued at about $40,000. Finally, Clearstead Advisors LLC bought a new position in shares of EQT during the third quarter worth about $41,000. 90.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on EQT shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. The Goldman Sachs Group decreased their price objective on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. StockNews.com raised shares of EQT to a “sell” rating in a research note on Tuesday, March 12th. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and upped their price target for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. Finally, Piper Sandler lifted their price objective on EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.13.

EQT Price Performance

Shares of EQT opened at $36.53 on Tuesday. The stock has a market cap of $16.09 billion, a P/E ratio of 8.60 and a beta of 1.12. The business’s fifty day moving average is $35.77 and its 200 day moving average is $38.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT Co. has a 12-month low of $30.84 and a 12-month high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Sell-side analysts anticipate that EQT Co. will post 1.53 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. EQT’s dividend payout ratio is presently 14.82%.

About EQT

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.