EQT Co. (NYSE:EQT) Stake Boosted by Bank of Nova Scotia

Bank of Nova Scotia lifted its holdings in EQT Co. (NYSE:EQT) by 37.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,379 shares of the oil and gas producer’s stock after buying an additional 23,047 shares during the quarter. Bank of Nova Scotia’s holdings in EQT were worth $3,937,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in 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 worth $48,000 after purchasing an additional 193 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of EQT in the fourth quarter valued at $55,000. First Horizon Advisors Inc. lifted its holdings in EQT by 33.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 298 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in EQT by 1,343.8% during the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,290 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of NYSE EQT opened at $49.66 on Friday. The business’s 50 day moving average is $50.93 and its two-hundred day moving average is $46.18. The company has a market cap of $29.67 billion, a P/E ratio of 124.16, a P/E/G ratio of 0.64 and a beta of 1.35. 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 12 month low of $30.02 and a 12 month high of $56.66.

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

EQT Announces Dividend

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. This represents a $0.63 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio is 157.50%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EQT shares. TD Cowen upgraded EQT from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. UBS Group reduced their target price on EQT from $58.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Jefferies Financial Group upped their price target on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $41.00 to $59.00 in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.72.

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.