Merewether Investment Management LP Purchases 436,322 Shares of EQT Co. (NYSE:EQT)

Merewether Investment Management LP increased its position in shares of EQT Co. (NYSE:EQT - Free Report) by 25.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,156,322 shares of the oil and gas producer's stock after purchasing an additional 436,322 shares during the quarter. EQT makes up approximately 4.0% of Merewether Investment Management LP's investment portfolio, making the stock its 7th largest position. Merewether Investment Management LP owned about 0.36% of EQT worth $99,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQT. Parkside Financial Bank & Trust grew its holdings 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 buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in EQT by 4.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer's stock valued at $218,000 after buying an additional 223 shares during the period. Huntington National Bank boosted its stake in EQT by 7.4% during the fourth 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. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of EQT by 15.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer's stock valued at $79,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on EQT shares. Piper Sandler reduced their target price on shares of EQT from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on shares of EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. increased their target price on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Sanford C. Bernstein upgraded shares of EQT from a "market perform" rating to an "outperform" rating and set a $73.00 target price on the stock in a report on Wednesday, January 15th. Finally, Morgan Stanley increased their target price on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and an average target price of $55.94.

EQT Stock Down 2.1%

Shares of NYSE:EQT opened at $54.45 on Tuesday. The company has a market cap of $32.60 billion, a price-to-earnings ratio of 136.13, a PEG ratio of 0.64 and a beta of 0.59. The firm's 50-day simple moving average is $50.90 and its 200-day simple moving average is $48.38. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion for 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%. As a group, equities research analysts predict that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.16%. EQT's dividend payout ratio (DPR) is presently 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.

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