Golden State Wealth Management LLC Buys New Position in EQT Corporation (NYSE:EQT)

Golden State Wealth Management LLC purchased a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,548 shares of the oil and gas producer's stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. raised its position in EQT by 47.7% in the fourth 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 during the period. EverSource Wealth Advisors LLC raised its position in EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust raised its position 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 purchasing an additional 193 shares during the period. First Horizon Advisors Inc. raised its position in EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock valued at $55,000 after purchasing an additional 298 shares during the period. Finally, Mascagni Wealth Management Inc. purchased a new stake in EQT in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EQT shares. Mizuho lifted their target price on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Citigroup lifted their target price on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Roth Capital started coverage on EQT in a research report on Tuesday, June 24th. They issued a "buy" rating and a $69.00 target price on the stock. Scotiabank reiterated a "sector perform" rating and issued a $62.00 price objective (up previously from $57.00) on shares of EQT in a report on Thursday, May 22nd. Finally, Stephens cut their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

EQT Stock Up 0.0%

NYSE EQT traded up $0.02 during trading hours on Monday, hitting $58.33. 11,136,878 shares of the company were exchanged, compared to its average volume of 7,937,124. The company has a 50 day moving average of $54.97 and a two-hundred day moving average of $51.69. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. EQT Corporation has a 52-week low of $30.02 and a 52-week high of $61.02. The firm has a market cap of $34.92 billion, a price-to-earnings ratio of 102.34, a PEG ratio of 0.35 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.16 billion. Equities research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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

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.