Balentine LLC Buys 733 Shares of EQT Co. (NYSE:EQT)

Balentine LLC raised its stake in EQT Co. (NYSE:EQT) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,777 shares of the oil and gas producer’s stock after acquiring an additional 733 shares during the quarter. Balentine LLC’s holdings in EQT were worth $223,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new position in EQT in the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new position in EQT in the 4th quarter valued at approximately $40,000. Principal Securities Inc. bought a new position in EQT in the 4th quarter valued at approximately $51,000. First Command Advisory Services Inc. bought a new position in EQT in the 3rd quarter valued at approximately $54,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in EQT by 52.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after buying an additional 539 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EQT. TD Cowen began coverage on shares of EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 target price for the company. Jefferies Financial Group increased their target price on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, April 5th. BMO Capital Markets raised their price objective on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Scotiabank raised their price objective on shares of EQT from $52.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 9th. Finally, Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.94.

EQT Price Performance

Shares of NYSE:EQT opened at $39.91 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $37.63. EQT Co. has a 1-year low of $32.07 and a 1-year high of $45.23. The stock has a market cap of $17.62 billion, a PE ratio of 28.92 and a beta of 1.09.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the business earned $1.70 EPS. The business’s revenue was down 28.8% on a year-over-year basis. As a group, analysts forecast that EQT Co. will post 1.03 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, May 7th. EQT’s payout ratio is 45.65%.

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.