Proficio Capital Partners LLC Buys New Position in EQT Co. (NYSE:EQT)

Proficio Capital Partners LLC bought a new stake in shares of EQT Co. (NYSE:EQT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 111,012 shares of the oil and gas producer’s stock, valued at approximately $5,119,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of EQT during the third quarter valued at approximately $30,000. Quarry LP raised its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of EQT during the third quarter valued at approximately $36,000. Financial Avengers Inc. raised its holdings in shares of EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $54.00 in a report on Friday, January 17th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Citigroup downgraded EQT from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Piper Sandler increased their price objective on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Finally, Truist Financial increased their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.56.

EQT Trading Up 3.8 %

EQT stock opened at $50.71 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The stock has a market capitalization of $30.30 billion, a PE ratio of 126.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The business’s fifty day moving average is $50.82 and its 200 day moving average is $43.59.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, sell-side analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.24%. EQT’s payout ratio is 157.50%.

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.