Summit Partners Public Asset Management LLC Takes $13.75 Million Position in EQT Co. (NYSE:EQT)

Summit Partners Public Asset Management LLC bought a new stake in EQT Co. (NYSE:EQT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 298,252 shares of the oil and gas producer's stock, valued at approximately $13,752,000.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of EQT by 44.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after purchasing an additional 16,416 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock valued at $298,000 after purchasing an additional 762 shares in the last quarter. Howard Financial Services LTD. purchased a new stake in shares of EQT in the fourth quarter valued at $223,000. Segment Wealth Management LLC purchased a new stake in shares of EQT in the fourth quarter valued at $1,735,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of EQT in the fourth quarter valued at $244,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Price Performance

Shares of EQT stock opened at $55.83 on Friday. The firm has a market capitalization of $33.42 billion, a price-to-earnings ratio of 139.58, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. 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 12-month low of $30.02 and a 12-month high of $57.04. The firm has a fifty day moving average of $51.59 and a 200-day moving average of $48.74.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The company 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%. On average, equities research analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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 $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.13%. EQT's dividend payout ratio is currently 110.53%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group raised shares of EQT from a "neutral" rating to a "buy" rating and upped their price target for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Morgan Stanley upped their price target on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Mizuho upped their price target on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a research note on Tuesday, April 8th. Finally, Stephens lowered their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, EQT presently has a consensus rating of "Moderate Buy" and an average price target of $56.67.

EQT 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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