Beck Capital Management LLC Grows Holdings in EQT Co. (NYSE:EQT)

Beck Capital Management LLC grew its holdings in shares of EQT Co. (NYSE:EQT) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,602 shares of the oil and gas producer’s stock after buying an additional 1,577 shares during the quarter. Beck Capital Management LLC’s holdings in EQT were worth $3,532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EQT. Invesco Ltd. increased its position in EQT by 46.3% in the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after buying an additional 4,162,065 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. Slate Path Capital LP acquired a new position in shares of EQT in the 4th quarter worth approximately $123,575,000. Raymond James Financial Inc. bought a new stake in shares of EQT in the 4th quarter worth approximately $113,924,000. Finally, Capital International Investors lifted its stake in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 1.7 %

Shares of EQT stock opened at $48.49 on Wednesday. The firm has a fifty day moving average of $50.56 and a 200-day moving average of $46.83. The stock has a market cap of $28.97 billion, a price-to-earnings ratio of 121.23, a P/E/G ratio of 0.64 and a beta of 1.35. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, equities research analysts forecast that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, May 7th. EQT’s payout ratio is presently 157.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EQT shares. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 15th. Truist Financial lifted their price objective on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. Finally, Mizuho boosted their target price on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.50.

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.