Entropy Technologies LP Purchases Shares of 65,233 EQT Co. (NYSE:EQT)

Entropy Technologies LP purchased a new stake in shares of EQT Co. (NYSE:EQT) in the fourth quarter, Holdings Channel reports. The firm purchased 65,233 shares of the oil and gas producer’s stock, valued at approximately $3,008,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. HM Payson & Co. bought a new stake in shares of EQT in the 3rd quarter worth $25,000. Truvestments Capital LLC bought a new stake in shares of EQT in the 3rd quarter worth $30,000. Quarry LP grew its stake in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 904 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of EQT in the 3rd quarter worth $36,000. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EQT shares. Piper Sandler boosted their price target on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Scotiabank downgraded shares of 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. Bank of America began coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

EQT Stock Down 0.6 %

Shares of NYSE EQT opened at $51.11 on Friday. EQT Co. has a one year low of $30.02 and a one year high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50 day simple moving average is $47.96 and its two-hundred day simple moving average is $40.38. The stock has a market capitalization of $30.50 billion, a P/E ratio of 60.84, a PEG ratio of 0.62 and a beta of 1.08.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s payout ratio is currently 75.00%.

About EQT

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.