Concentric Capital Strategies LP Has $3.24 Million Holdings in EQT Co. (NYSE:EQT)

Concentric Capital Strategies LP lowered its position in EQT Co. (NYSE:EQT - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,178 shares of the oil and gas producer's stock after selling 134,981 shares during the period. Concentric Capital Strategies LP's holdings in EQT were worth $3,236,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EQT. Mirae Asset Global Investments Co. Ltd. grew its position in shares of EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after purchasing an additional 16,416 shares during the period. D.A. Davidson & CO. increased its position in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock worth $298,000 after acquiring an additional 762 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock worth $1,914,000 after acquiring an additional 5,489 shares during the period. Howard Financial Services LTD. bought a new stake in EQT in the 4th quarter valued at $223,000. Finally, Segment Wealth Management LLC acquired a new position in EQT in the 4th quarter worth $1,735,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Performance

EQT stock traded up $1.88 during midday trading on Friday, reaching $55.28. 7,706,021 shares of the company were exchanged, compared to its average volume of 7,893,260. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The firm has a market capitalization of $33.09 billion, a price-to-earnings ratio of 138.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The business has a 50-day moving average price of $50.81 and a two-hundred 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 posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating 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 the consensus estimate of $2.16 billion. Equities research analysts forecast that EQT Co. will post 3.27 EPS for the current 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 paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, May 7th. EQT's dividend payout ratio (DPR) is presently 110.53%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Mizuho lifted their price target on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. StockNews.com cut EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Scotiabank downgraded shares of EQT from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. JPMorgan Chase & Co. increased their target price on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Finally, Piper Sandler lowered their price target on shares of EQT from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.