Adalta Capital Management LLC Raises Stock Position in EQT Co. (NYSE:EQT)

Adalta Capital Management LLC lifted its holdings in EQT Co. (NYSE:EQT - Free Report) by 150.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the oil and gas producer's stock after purchasing an additional 4,500 shares during the period. Adalta Capital Management LLC's holdings in EQT were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQT. Castleark Management LLC raised its position in EQT by 752.9% in the fourth quarter. Castleark Management LLC now owns 333,050 shares of the oil and gas producer's stock worth $15,357,000 after acquiring an additional 294,000 shares during the period. MidWestOne Financial Group Inc. increased its stake in shares of EQT by 6.6% in the 4th quarter. MidWestOne Financial Group Inc. now owns 22,968 shares of the oil and gas producer's stock worth $1,059,000 after purchasing an additional 1,425 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in EQT by 1.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,018,806 shares of the oil and gas producer's stock worth $93,087,000 after purchasing an additional 37,707 shares during the period. USS Investment Management Ltd lifted its position in EQT by 52.9% during the fourth quarter. USS Investment Management Ltd now owns 39,900 shares of the oil and gas producer's stock valued at $1,840,000 after purchasing an additional 13,800 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in EQT during the fourth quarter valued at $24,046,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Price Performance

EQT stock traded down $0.11 during mid-day trading on Friday, hitting $55.58. The company had a trading volume of 6,812,553 shares, compared to its average volume of 7,923,174. The company has a 50-day moving average price of $52.10 and a 200 day moving average price of $49.39. EQT Co. has a 12-month low of $30.02 and a 12-month high of $57.37. The company has a market capitalization of $33.27 billion, a price-to-earnings ratio of 138.95, a P/E/G ratio of 0.64 and a beta of 0.59. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

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, 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 the consensus estimate of $2.16 billion. On average, research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.13%. EQT's dividend payout ratio (DPR) is 110.53%.

Wall Street Analyst Weigh In

A number of analysts have commented on EQT shares. JPMorgan Chase & Co. upped their price target on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. UBS Group raised shares of EQT from a "neutral" rating to a "buy" rating and increased their target price for the stock from $54.00 to $64.00 in a report on Monday, May 5th. Citigroup lifted their price target on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. The Goldman Sachs Group reiterated a "reduce" rating on shares of EQT in a research report on Wednesday, February 12th. Finally, Scotiabank restated a "sector perform" rating and set a $62.00 price objective (up from $57.00) on shares of EQT in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.