EQT Co. (NYSE:EQT) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital lifted its stake in shares of EQT Co. (NYSE:EQT) by 15.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,099 shares of the oil and gas producer’s stock after buying an additional 1,854 shares during the quarter. Wedmont Private Capital’s holdings in EQT were worth $700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. grew its position in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after buying an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in EQT in the fourth quarter valued at approximately $55,000. Finally, First Horizon Advisors Inc. boosted its holdings in EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 298 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Price Performance

EQT stock opened at $54.87 on Tuesday. EQT Co. has a 12 month low of $30.02 and a 12 month high of $57.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The business has a 50 day simple moving average of $52.59 and a 200-day simple moving average of $50.41. The stock has a market capitalization of $32.85 billion, a PE ratio of 137.18, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equities analysts predict that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EQT shares. Scotiabank reaffirmed a “sector perform” rating and issued a $62.00 price target (up from $57.00) on shares of EQT in a report on Thursday, May 22nd. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, April 8th. Finally, Piper Sandler upped their price target on EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, EQT has an average rating of “Moderate Buy” and an average price target of $57.11.

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.