Drummond Knight Asset Management Pty Ltd Acquires Shares of 223,133 EQT Co. (NYSE:EQT)

Drummond Knight Asset Management Pty Ltd bought a new position in EQT Co. (NYSE:EQT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 223,133 shares of the oil and gas producer's stock, valued at approximately $10,289,000. EQT accounts for about 7.5% of Drummond Knight Asset Management Pty Ltd's investment portfolio, making the stock its 6th largest position.

A number of other large investors have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its position in EQT by 22.7% during 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 acquiring an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after buying an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of EQT by 4.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer's stock worth $218,000 after buying an additional 223 shares during the last quarter. Huntington National Bank raised its holdings in shares of EQT by 7.4% in the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock worth $151,000 after buying an additional 224 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of EQT by 15.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer's stock worth $79,000 after buying an additional 236 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

EQT Trading Down 2.2%

Shares of EQT stock traded down $1.22 on Monday, reaching $54.41. The company had a trading volume of 7,054,128 shares, compared to its average volume of 7,890,894. The firm's 50 day moving average price is $50.81 and its two-hundred day moving average price is $48.26. The firm has a market cap of $32.57 billion, a PE ratio of 136.28, a PEG ratio of 0.64 and a beta of 0.59. EQT Co. has a 52-week low of $30.02 and a 52-week high of $57.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

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

EQT Dividend Announcement

The firm also recently disclosed 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 1.16%. The ex-dividend date is Wednesday, May 7th. EQT's dividend payout ratio (DPR) is currently 110.53%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Scotiabank cut shares of EQT from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Mizuho raised their price target on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Stephens cut their price objective on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, UBS Group upgraded shares of EQT from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average target price of $55.94.

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.