Pallas Capital Advisors LLC Acquires Shares of 10,383 EQT Co. (NYSE:EQT)

Pallas Capital Advisors LLC acquired a new stake 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 firm acquired 10,383 shares of the oil and gas producer's stock, valued at approximately $555,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. raised its position in shares of 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 worth $44,000 after acquiring an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after acquiring an additional 205 shares during the period. Parkside Financial Bank & Trust boosted its position in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 193 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in EQT during the fourth quarter worth $55,000. Finally, First Horizon Advisors Inc. boosted its position in EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock worth $55,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Trading Up 2.3%

EQT traded up $1.30 during mid-day trading on Friday, reaching $56.82. The stock had a trading volume of 7,731,773 shares, compared to its average volume of 7,897,859. The stock has a market capitalization of $34.02 billion, a P/E ratio of 142.06, a P/E/G ratio of 0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm's fifty day simple moving average is $53.14 and its two-hundred day simple moving average is $50.60. EQT Co. has a 52 week low of $30.02 and a 52 week high of $57.37.

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 analysts' consensus estimates of $0.98 by $0.20. The company 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 4.35% and a net margin of 4.37%. On average, equities analysts predict that EQT Co. will post 3.27 EPS for the current 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 dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's payout ratio is currently 110.53%.

Analyst Upgrades and Downgrades

EQT has been the topic of several recent analyst reports. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a research report on Tuesday, April 8th. Citigroup raised their price objective on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Mizuho raised their price objective on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. raised their price objective on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Finally, Piper Sandler raised their price objective on EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.11.

EQT Company 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.