Bridgefront Capital LLC Acquires New Holdings in EQT Co. (NYSE:EQT)

Bridgefront Capital LLC bought a new stake in shares of EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,771 shares of the oil and gas producer's stock, valued at approximately $589,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock valued at $606,059,000 after buying an additional 4,162,065 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer's stock valued at $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. Slate Path Capital LP bought a new stake in EQT in the fourth quarter worth $123,575,000. Raymond James Financial Inc. acquired a new stake in shares of EQT in the fourth quarter worth about $113,924,000. Finally, Capital International Investors boosted its stake in shares of EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after acquiring an additional 2,433,632 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Price Performance

Shares of EQT traded up $1.88 on Friday, hitting $55.28. The company's stock had a trading volume of 7,706,021 shares, compared to its average volume of 7,893,260. The company has a market capitalization of $33.09 billion, a PE ratio of 138.20, a PEG ratio of 0.64 and a beta of 0.59. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The company has a 50 day moving average price of $50.81 and a 200 day moving average price of $48.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

EQT (NYSE:EQT - Get Free Report) last announced its 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 company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. On average, research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's dividend payout ratio is currently 110.53%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their target price on EQT from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Sanford C. Bernstein upgraded EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price objective on the stock in a research note on Wednesday, January 15th. Scotiabank downgraded EQT from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial increased their price target on shares of EQT from $41.00 to $56.00 and gave the company a "hold" rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, EQT currently has a consensus rating of "Moderate Buy" and an average target price of $55.94.

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.