Riverbend Wealth Management LLC Takes Position in EQT Corporation (NYSE:EQT)

Riverbend Wealth Management LLC acquired a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,673 shares of the oil and gas producer's stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock worth $3,344,371,000 after purchasing an additional 358,649 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EQT by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock valued at $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Capital International Investors lifted its holdings in shares of EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. Clearbridge Investments LLC raised its holdings in EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after acquiring an additional 1,774,696 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after acquiring an additional 4,162,065 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

EQT stock opened at $60.39 on Wednesday. The firm has a market capitalization of $36.15 billion, a P/E ratio of 105.95, a price-to-earnings-growth ratio of 0.37 and a beta of 0.65. The company's 50-day moving average is $54.53 and its 200 day moving average is $51.35. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57.

EQT (NYSE:EQT - Get Free Report) last issued 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. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Research analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, May 7th. EQT's payout ratio is 110.53%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQT. Citigroup boosted their target price on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Piper Sandler boosted their price objective on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. UBS Group raised shares of EQT from a "neutral" rating to a "buy" rating and upped their target price for the stock from $54.00 to $64.00 in a report on Monday, May 5th. Scotiabank restated a "sector perform" rating and set a $62.00 price objective (up previously from $57.00) on shares of EQT in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, EQT has an average rating of "Moderate Buy" and a consensus price target of $58.00.

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.

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