Corigliano Investment Advisers LLC Acquires New Position in EQT Co. (NYSE:EQT)

Corigliano Investment Advisers LLC acquired a new position in EQT Co. (NYSE:EQT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 223,827 shares of the oil and gas producer's stock, valued at approximately $10,321,000. EQT comprises about 4.9% of Corigliano Investment Advisers LLC's holdings, making the stock its 7th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its stake 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 buying an additional 3,454,741 shares in the last quarter. Slate Path Capital LP purchased a new position in shares of EQT during the 4th quarter valued at $123,575,000. Castle Hook Partners LP lifted its stake in EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock worth $184,012,000 after purchasing an additional 2,658,375 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in EQT in the 4th quarter worth $113,924,000. Institutional investors own 90.81% of the company's stock.

EQT Stock Performance

NYSE EQT traded down $0.95 during trading on Monday, reaching $54.67. The company's stock had a trading volume of 6,764,185 shares, compared to its average volume of 7,889,302. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm has a market cap of $32.73 billion, a price-to-earnings ratio of 136.70, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a twelve month low of $30.02 and a twelve month high of $57.53. The business's fifty day moving average price is $50.81 and its 200-day moving average price is $48.26.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. As a group, analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

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

Analysts Set New Price Targets

EQT has been the topic of several research analyst reports. Mizuho boosted their price target on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. StockNews.com downgraded shares of EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Wells Fargo & Company raised their target price on shares of EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a "reduce" rating on shares of EQT in a research report on Wednesday, February 12th. Finally, Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.