Magnus Financial Group LLC Takes Position in EQT Co. (NYSE:EQT)

Magnus Financial Group LLC acquired a new position in EQT Co. (NYSE:EQT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,992 shares of the oil and gas producer's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Generali Investments Management Co LLC raised its stake in EQT by 14.1% in the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after purchasing an additional 211 shares in the last quarter. Fulton Bank N.A. lifted its position in EQT by 12.1% during the first quarter. Fulton Bank N.A. now owns 16,228 shares of the oil and gas producer's stock worth $867,000 after purchasing an additional 1,750 shares during the period. Merit Financial Group LLC lifted its position in EQT by 277.2% during the first quarter. Merit Financial Group LLC now owns 17,532 shares of the oil and gas producer's stock worth $937,000 after purchasing an additional 12,884 shares during the period. Harbor Investment Advisory LLC lifted its position in EQT by 93.8% during the first quarter. Harbor Investment Advisory LLC now owns 1,550 shares of the oil and gas producer's stock worth $83,000 after purchasing an additional 750 shares during the period. Finally, NBC Securities Inc. lifted its position in EQT by 391,530.8% during the first quarter. NBC Securities Inc. now owns 50,912 shares of the oil and gas producer's stock worth $2,720,000 after purchasing an additional 50,899 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. Citigroup lifted their price target on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, March 17th. 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. Wall Street Zen downgraded shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Finally, Morgan Stanley raised their price target on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.11.

EQT Stock Up 1.9%

Shares of NYSE EQT opened at $56.38 on Friday. The company has a 50 day simple moving average of $52.59 and a 200 day simple moving average of $50.29. The firm has a market cap of $33.75 billion, a PE ratio of 140.95, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. EQT Co. has a 1 year low of $30.02 and a 1 year high of $57.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, research analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend payout ratio is presently 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.

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