Senator Investment Group LP purchased a new position in EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 980,283 shares of the oil and gas producer's stock, valued at approximately $45,201,000. EQT comprises approximately 1.3% of Senator Investment Group LP's investment portfolio, making the stock its 25th biggest position. Senator Investment Group LP owned about 0.16% of EQT at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in EQT. Retirement Systems of Alabama increased its position in shares of EQT by 36.7% in the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer's stock valued at $4,878,000 after acquiring an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock worth $2,379,000 after buying an additional 16,416 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of EQT by 13.4% during the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock valued at $298,000 after acquiring an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in EQT by 15.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock valued at $1,914,000 after purchasing an additional 5,489 shares during the period. Finally, Howard Financial Services LTD. purchased a new stake in EQT in the 4th quarter worth $223,000. 90.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on EQT. Scotiabank lowered EQT from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. Morgan Stanley raised their price target on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday. Royal Bank of Canada restated a "sector perform" rating and issued a $49.00 price objective on shares of EQT in a report on Monday, January 6th. Finally, The Goldman Sachs Group restated a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.39.
Read Our Latest Report on EQT
EQT Stock Performance
EQT stock traded up $1.44 on Friday, hitting $50.26. The company's stock had a trading volume of 9,360,326 shares, compared to its average volume of 7,799,134. 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 1 year low of $30.02 and a 1 year high of $56.66. The firm has a 50 day moving average of $50.31 and a two-hundred day moving average of $47.01. The stock has a market cap of $30.03 billion, a price-to-earnings ratio of 125.65, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35.
EQT (NYSE:EQT - Get Free Report) last announced 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. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equities analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.
EQT Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's payout ratio is 157.50%.
EQT Company Profile
(
Free Report)
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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