Rockingstone Advisors LLC Acquires 9,000 Shares of EQT Co. (NYSE:EQT)

Rockingstone Advisors LLC lifted its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 19.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,350 shares of the oil and gas producer's stock after acquiring an additional 9,000 shares during the period. Rockingstone Advisors LLC's holdings in EQT were worth $2,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EQT. University of Texas Texas AM Investment Management Co. grew its stake 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 acquiring an additional 310 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust grew its position in EQT by 22.7% in the 4th 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. Stonebridge Financial Group LLC bought a new stake in EQT during the 4th quarter valued at $55,000. Finally, Mascagni Wealth Management Inc. bought a new stake in EQT during the 4th quarter valued at $55,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

NYSE EQT traded up $1.30 during trading hours on Friday, reaching $56.82. 7,731,773 shares of the company were exchanged, compared to its average volume of 7,887,777. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. 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. EQT Co. has a 1 year low of $30.02 and a 1 year high of $57.57. The business's 50 day simple moving average is $52.95 and its 200-day simple moving average is $50.52.

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 (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. On average, equities research analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.11%. EQT's payout ratio is presently 110.53%.

Analyst Upgrades and Downgrades

EQT has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Wells Fargo & Company lifted their price target on EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, March 19th. Mizuho boosted 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. Morgan Stanley increased their price objective on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Scotiabank reiterated a "sector perform" rating and set a $62.00 price target (up previously from $57.00) on shares of EQT in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, EQT presently has a consensus rating of "Moderate Buy" and a consensus 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.