Advisor Resource Council Acquires Shares of 5,385 EQT Corporation (NYSE:EQT)

Advisor Resource Council purchased a new stake in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,385 shares of the oil and gas producer's stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC purchased a new position in shares of EQT during the 1st quarter worth approximately $153,000. Blue Trust Inc. increased its position in EQT by 16.1% during the first quarter. Blue Trust Inc. now owns 1,806 shares of the oil and gas producer's stock worth $96,000 after buying an additional 250 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in EQT during the first quarter worth $554,000. Friedenthal Financial boosted its stake in shares of EQT by 8,309.7% during the first quarter. Friedenthal Financial now owns 17,324 shares of the oil and gas producer's stock valued at $926,000 after acquiring an additional 17,118 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in EQT by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 69,937 shares of the oil and gas producer's stock worth $3,736,000 after purchasing an additional 1,910 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Mizuho upped their target price on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Roth Capital initiated coverage on shares of EQT in a research report on Tuesday. They set a "buy" rating and a $69.00 target price on the stock. Morgan Stanley boosted their price target on EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, April 8th. Finally, Citigroup lifted their price objective on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average price target of $58.00.

EQT Stock Up 0.3%

NYSE:EQT traded up $0.17 during trading hours on Friday, hitting $58.32. The stock had a trading volume of 10,339,506 shares, compared to its average volume of 7,918,729. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33. The company has a market cap of $34.91 billion, a PE ratio of 102.32, a price-to-earnings-growth ratio of 0.36 and a beta of 0.65. The business has a 50 day simple moving average of $54.82 and a two-hundred day simple moving average of $51.50.

EQT (NYSE:EQT - Get Free Report) last announced its 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. EQT had a return on equity of 5.52% and a net margin of 6.59%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. Analysts predict that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. EQT's dividend payout ratio (DPR) is 110.53%.

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.