Southport Management L.L.C. purchased a new position in shares of EQT Co. (NYSE:EQT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the oil and gas producer's stock, valued at approximately $692,000. EQT accounts for about 2.5% of Southport Management L.L.C.'s investment portfolio, making the stock its 18th biggest position.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in EQT by 26.6% in 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 in the last quarter. 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 worth $48,000 after buying an additional 193 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in EQT in the 4th quarter worth approximately $55,000. First Horizon Advisors Inc. grew its holdings 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 buying an additional 298 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in EQT by 1,343.8% in the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock worth $64,000 after buying an additional 1,290 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Piper Sandler increased their price target on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. increased their price target on EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. The Goldman Sachs Group reaffirmed a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. UBS Group raised EQT from a "neutral" rating to a "buy" rating and increased their price target for the company from $54.00 to $64.00 in a research note on Monday, May 5th. Finally, Mizuho increased their price target on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $56.67.
Read Our Latest Stock Analysis on EQT
EQT Stock Down 0.6%
Shares of EQT traded down $0.36 during mid-day trading on Monday, reaching $55.50. The company's stock had a trading volume of 6,377,397 shares, compared to its average volume of 7,944,366. The business has a fifty day moving average of $51.59 and a 200 day moving average of $48.90. The company has a market cap of $33.22 billion, a price-to-earnings ratio of 138.75, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. EQT Co. has a 1 year low of $30.02 and a 1 year high of $57.04. 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 (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, analysts forecast that EQT Co. will post 3.27 earnings per share for the current fiscal year.
EQT Dividend Announcement
The firm 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. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.14%. EQT's payout ratio is currently 110.53%.
About EQT
(
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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