TLS Advisors LLC Has $6.95 Million Stock Position in EQT Co. (NYSE:EQT)

TLS Advisors LLC cut its stake in shares of EQT Co. (NYSE:EQT) by 23.9% during the fourth quarter, Holdings Channel reports. The firm owned 150,800 shares of the oil and gas producer’s stock after selling 47,400 shares during the quarter. EQT makes up approximately 15.9% of TLS Advisors LLC’s portfolio, making the stock its 2nd largest holding. TLS Advisors LLC’s holdings in EQT were worth $6,953,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of EQT in the 3rd quarter valued at approximately $30,000. Quarry LP lifted its holdings 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 in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of EQT in the third quarter valued at $36,000. Financial Avengers Inc. grew 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 buying an additional 504 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Morgan Stanley reiterated an “overweight” rating and issued a $67.00 price objective (up previously from $63.00) on shares of EQT in a research note on Wednesday. Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $59.00 in a research note on Tuesday, March 18th. Finally, Piper Sandler boosted their price target on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.11.

EQT Stock Performance

NYSE:EQT opened at $53.07 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm’s 50-day moving average is $51.38 and its 200-day moving average is $44.84. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The company has a market cap of $31.71 billion, a price-to-earnings ratio of 132.68, a PEG ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Equities research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.19%. EQT’s dividend payout ratio is currently 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.