Twinbeech Capital LP Takes Position in EQT Co. (NYSE:EQT)

Twinbeech Capital LP bought a new stake in EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,655 shares of the oil and gas producer's stock, valued at approximately $261,000.

A number of other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 205 shares in the last quarter. 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 acquiring an additional 193 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in EQT during the 4th quarter valued at about $55,000. First Horizon Advisors Inc. lifted its stake in EQT by 33.1% in the 4th 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. Finally, Larson Financial Group LLC increased its holdings in shares of EQT by 1,343.8% in the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock valued at $64,000 after purchasing an additional 1,290 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. Piper Sandler raised their price objective on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Morgan Stanley boosted their target price on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Scotiabank reissued a "sector perform" rating and issued a $62.00 price target (up previously from $57.00) on shares of EQT in a research note on Thursday, May 22nd. Finally, TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, EQT has an average rating of "Moderate Buy" and an average target price of $57.11.

EQT Stock Up 1.7%

EQT traded up $0.93 during trading hours on Tuesday, hitting $56.54. 5,221,348 shares of the company's stock were exchanged, compared to its average volume of 7,916,402. The firm has a market cap of $33.85 billion, a P/E ratio of 141.35, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. EQT Co. has a 12-month low of $30.02 and a 12-month high of $57.37. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $52.14 and a 200 day moving average of $49.61.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.11%. EQT's dividend payout ratio (DPR) is 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.