Senator Investment Group LP Invests $45.20 Million in EQT Co. (NYSE:EQT)

Senator Investment Group LP 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 & Exchange Commission. The fund purchased 980,283 shares of the oil and gas producer’s stock, valued at approximately $45,201,000. EQT comprises 1.3% of Senator Investment Group LP’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position 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. Parkside Financial Bank & Trust boosted its stake 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 buying an additional 193 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in EQT in the 4th quarter valued at $55,000. First Horizon Advisors Inc. increased its stake in shares of 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 worth $55,000 after acquiring an additional 298 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of EQT by 1,343.8% during the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,290 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Up 0.3 %

Shares of NYSE:EQT opened at $51.01 on Monday. The company has a market cap of $30.47 billion, a PE ratio of 127.52, a P/E/G ratio of 0.64 and a beta of 1.35. The company’s 50 day moving average is $50.75 and its two-hundred day moving average is $46.74. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

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

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.24%. EQT’s dividend payout ratio is currently 157.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EQT shares. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a report on Wednesday, January 15th. Morgan Stanley reiterated an “overweight” rating and issued a $67.00 price objective (up from $63.00) on shares of EQT in a report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price target on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. Finally, StockNews.com lowered shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.56.

EQT 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.