Commonwealth Equity Services LLC Grows Position in EQT Co. (NYSE:EQT)

Commonwealth Equity Services LLC increased its position in shares of EQT Co. (NYSE:EQT) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,804 shares of the oil and gas producer’s stock after buying an additional 2,407 shares during the quarter. Commonwealth Equity Services LLC’s holdings in EQT were worth $5,478,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after buying an additional 32,484 shares during the last quarter. Retirement Systems of Alabama grew its stake 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 purchasing an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of EQT by 44.2% in the 4th 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 during the last quarter. FMR LLC grew its stake in shares of EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after purchasing an additional 28,129 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of EQT by 13.4% in 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 purchasing an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lifted their target price on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $57.00 in a research note on Monday, December 16th. Morgan Stanley lifted their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Truist Financial lifted their price target on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

EQT Stock Performance

NYSE EQT opened at $52.89 on Friday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The stock has a market cap of $31.60 billion, a price-to-earnings ratio of 132.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The business has a fifty day moving average of $51.25 and a 200-day moving average of $44.20. 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) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. As a group, analysts predict 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 was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.19%. EQT’s payout ratio is currently 157.50%.

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.