Symmetry Investments LP Invests $8.47 Million in EQT Co. (NYSE:EQT)

Symmetry Investments LP purchased a new stake in EQT Co. (NYSE:EQT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 183,771 shares of the oil and gas producer’s stock, valued at approximately $8,474,000.

A number of other hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust boosted its stake in EQT by 22.7% during the 4th 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 during the period. Stonebridge Financial Group LLC purchased a new position in shares of EQT in the 4th quarter valued at approximately $55,000. First Horizon Advisors Inc. increased its stake in shares of EQT by 33.1% during the fourth 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 period. Finally, Larson Financial Group LLC raised its position in EQT by 1,343.8% in the fourth 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 in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of NYSE EQT opened at $48.49 on Wednesday. The company has a market capitalization of $28.97 billion, a P/E ratio of 121.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The business’s 50-day moving average price is $50.56 and its two-hundred day moving average price is $46.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a one year low of $30.02 and a one year high of $56.66.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EQT shares. Piper Sandler cut their price target on EQT from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. 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 research report on Thursday, March 13th. Finally, Truist Financial increased their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.