Merit Financial Group LLC Takes $214,000 Position in EQT Co. (NYSE:EQT)

Merit Financial Group LLC purchased a new position in shares of EQT Co. (NYSE:EQT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,648 shares of the oil and gas producer’s stock, valued at approximately $214,000.

Several other institutional investors have also added to or reduced their stakes in EQT. Procyon Advisors LLC lifted its holdings in shares of EQT by 55.3% during the fourth quarter. Procyon Advisors LLC now owns 37,081 shares of the oil and gas producer’s stock worth $1,710,000 after buying an additional 13,209 shares in the last quarter. Steph & Co. increased its position in EQT by 27.6% during the fourth quarter. Steph & Co. now owns 7,480 shares of the oil and gas producer’s stock worth $345,000 after acquiring an additional 1,618 shares during the period. Connective Portfolio Management LLC acquired a new stake in EQT in the 4th quarter worth about $1,752,000. Rockingstone Advisors LLC boosted its holdings in EQT by 320.3% in the 4th quarter. Rockingstone Advisors LLC now owns 45,350 shares of the oil and gas producer’s stock valued at $2,091,000 after purchasing an additional 34,560 shares during the period. Finally, Radnor Capital Management LLC boosted its holdings in EQT by 0.4% in the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock valued at $2,810,000 after purchasing an additional 237 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EQT. Mizuho upgraded shares of 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 report on Monday, December 16th. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. BMO Capital Markets increased their target price on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Truist Financial raised their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

EQT Stock Up 0.4 %

Shares of EQT opened at $53.78 on Monday. The stock has a market capitalization of $32.09 billion, a price-to-earnings ratio of 64.03 and a beta of 1.12. EQT Co. has a 52 week low of $30.02 and a 52 week high of $54.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a fifty day moving average of $46.84 and a 200-day moving average of $39.37.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that EQT Co. will post 1.42 earnings per share for the current fiscal year.

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.