Central Pacific Bank Trust Division Buys New Holdings in EQT Co. (NYSE:EQT)

Central Pacific Bank Trust Division acquired a new position in shares of EQT Co. (NYSE:EQT - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,257 shares of the oil and gas producer's stock, valued at approximately $1,136,000.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its stake in EQT by 22.7% in 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 buying an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in EQT by 4.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer's stock worth $218,000 after purchasing an additional 223 shares during the last quarter. Huntington National Bank grew its position in EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock worth $151,000 after purchasing an additional 224 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its position in EQT by 0.7% during the 4th quarter. Waldron Private Wealth LLC now owns 37,323 shares of the oil and gas producer's stock worth $1,721,000 after purchasing an additional 251 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Trading Up 0.1%

NYSE EQT traded up $0.05 on Tuesday, reaching $56.71. 8,244,921 shares of the company were exchanged, compared to its average volume of 8,407,174. The business's fifty day moving average price is $52.37 and its 200 day moving average price is $50.05. The stock has a market capitalization of $33.95 billion, a P/E ratio of 141.79, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.37.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.16 billion. Analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.11%. EQT's payout ratio is currently 110.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQT shares. Morgan Stanley raised their price objective on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Mizuho raised their price objective on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Finally, Wells Fargo & Company lifted their price target on EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of "Moderate Buy" and an average target price of $57.11.

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.