Confluence Wealth Services Inc. Purchases Shares of 4,971 EQT Corporation (NYSE:EQT)

Confluence Wealth Services Inc. purchased a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,971 shares of the oil and gas producer's stock, valued at approximately $242,000.

A number of other large investors have also recently modified their holdings of EQT. University of Texas Texas AM Investment Management Co. raised its position in EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after purchasing an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of 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 acquiring an additional 193 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of EQT in the fourth quarter valued at about $55,000. Finally, Larson Financial Group LLC lifted its stake in EQT by 1,343.8% in the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock worth $64,000 after acquiring an additional 1,290 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Performance

Shares of EQT traded down $2.41 during trading hours on Tuesday, reaching $55.91. 3,188,498 shares of the company traded hands, compared to its average volume of 7,919,649. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average price of $55.19 and a 200-day moving average price of $51.78. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02. The stock has a market capitalization of $33.47 billion, a P/E ratio of 98.11, a P/E/G ratio of 0.35 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 5.52% and a net margin of 6.59%. Equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.13%. EQT's dividend payout ratio (DPR) is presently 110.53%.

Analysts Set New Price Targets

A number of research analysts have commented on EQT shares. JPMorgan Chase & Co. raised their target price on shares of EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Wall Street Zen lowered shares of EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. TD Cowen raised shares of 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. Stephens cut their price target on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Citigroup boosted their price target on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

EQT 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.