Gallo Partners LP Takes Position in EQT Co. (NYSE:EQT)

Gallo Partners LP acquired a new position in shares of EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,612 shares of the oil and gas producer's stock, valued at approximately $1,181,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQT. EverSource Wealth Advisors LLC grew its position 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 acquiring an additional 205 shares during the last quarter. Parkside Financial Bank & Trust increased 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 acquiring an additional 193 shares during the period. Stonebridge Financial Group LLC acquired a new stake in EQT during the 4th quarter worth approximately $55,000. First Horizon Advisors Inc. increased its holdings in shares of EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock valued at $55,000 after purchasing an additional 298 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of EQT by 1,343.8% during the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EQT shares. Stephens cut their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Citigroup upped their price target on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. Morgan Stanley boosted their price objective on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a research note on Tuesday, April 8th. Finally, Truist Financial lifted their price target on shares of EQT from $41.00 to $56.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Two 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 data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $55.94.

EQT Stock Performance

EQT stock traded up $1.60 during mid-day trading on Monday, reaching $53.45. The company's stock had a trading volume of 4,171,410 shares, compared to its average volume of 7,824,313. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The business has a 50 day moving average price of $50.27 and a 200-day moving average price of $47.65. The firm has a market cap of $32.00 billion, a price-to-earnings ratio of 133.69, a PEG ratio of 0.64 and a beta of 1.35.

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, beating 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 business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Sell-side analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. EQT's dividend payout ratio is currently 110.53%.

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.