Gallo Partners LP Takes $1.18 Million Position in EQT Co. (NYSE:EQT)

Gallo Partners LP bought a new position in EQT Co. (NYSE:EQT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 25,612 shares of the oil and gas producer’s stock, valued at approximately $1,181,000.

A number of other large investors also recently modified their holdings of EQT. Retirement Systems of Alabama lifted its position in EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after acquiring an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock valued at $2,379,000 after acquiring an additional 16,416 shares during the last quarter. D.A. Davidson & CO. lifted its stake in EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 762 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock worth $1,914,000 after purchasing an additional 5,489 shares during the period. Finally, Howard Financial Services LTD. acquired a new stake in shares of EQT during the fourth quarter worth $223,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.1 %

EQT stock opened at $51.19 on Wednesday. The firm’s 50 day moving average price is $50.21 and its two-hundred day moving average price is $47.28. 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 Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The firm has a market cap of $30.64 billion, a PE ratio of 127.98, a P/E/G ratio of 0.64 and a beta of 1.35.

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

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, May 7th. EQT’s payout ratio is presently 110.53%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EQT shares. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. Citigroup upped their price objective on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.39.

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.