SteelPeak Wealth LLC Purchases New Stake in EQT Corporation (NYSE:EQT)

SteelPeak Wealth LLC purchased a new stake in EQT Corporation (NYSE:EQT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,407 shares of the oil and gas producer's stock, valued at approximately $2,373,000.

A number of other large investors have also added to or reduced their stakes in EQT. EverSource Wealth Advisors LLC increased its position in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after buying an additional 205 shares during the period. Fidelis Capital Partners LLC increased its position in EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after buying an additional 207 shares during the period. Generali Investments Management Co LLC increased its position in EQT by 14.1% during 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 buying an additional 211 shares during the period. Bartlett & CO. Wealth Management LLC increased its position in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after buying an additional 219 shares during the period. Finally, Huntington National Bank increased its position in EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock worth $151,000 after buying an additional 224 shares during the period. Institutional investors own 90.81% of the company's stock.

EQT Stock Performance

NYSE:EQT opened at $55.33 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $33.13 billion, a PE ratio of 97.07, a price-to-earnings-growth ratio of 0.34 and a beta of 0.65. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02. The stock's 50-day simple moving average is $56.14 and its 200 day simple moving average is $52.39.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. On average, analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal 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 given a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.14%. EQT's dividend payout ratio is presently 110.53%.

Analyst Ratings Changes

EQT has been the topic of several recent research reports. Citigroup increased their price objective on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Scotiabank increased their target price on EQT from $62.00 to $66.00 and gave the stock a "sector perform" rating in a report on Friday. Jefferies Financial Group reissued a "buy" rating and set a $70.00 target price (up from $60.00) on shares of EQT in a report on Tuesday. Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Finally, 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.15.

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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