Erste Asset Management GmbH Invests $842,000 in EQT Co. (NYSE:EQT)

Erste Asset Management GmbH purchased a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,000 shares of the oil and gas producer’s stock, valued at approximately $842,000.

A number of other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in EQT during the 3rd quarter worth about $30,000. Quarry LP boosted its stake in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in EQT during the 3rd quarter worth approximately $36,000. Finally, Financial Avengers Inc. lifted its holdings in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group boosted their target price on EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. StockNews.com raised EQT from a “sell” rating to a “hold” rating in a research report on Friday. Citigroup lowered shares of EQT from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Finally, Piper Sandler increased their price objective on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.56.

EQT Stock Performance

NYSE EQT opened at $50.71 on Friday. 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 52-week low of $30.02 and a 52-week high of $56.66. The business’s 50-day moving average price is $50.82 and its 200 day moving average price is $43.44. The firm has a market cap of $30.30 billion, a P/E ratio of 126.79, a P/E/G ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 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 analyst estimates of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, February 18th. EQT’s payout ratio is currently 157.50%.

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.