Beacon Pointe Advisors LLC Has $1.51 Million Holdings in EQT Co. (NYSE:EQT)

Beacon Pointe Advisors LLC raised its position in EQT Co. (NYSE:EQT) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 32,785 shares of the oil and gas producer’s stock after purchasing an additional 394 shares during the period. Beacon Pointe Advisors LLC’s holdings in EQT were worth $1,512,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EQT. Vanguard Group Inc. lifted its holdings in EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock valued at $3,344,371,000 after buying an additional 358,649 shares during the period. Geode Capital Management LLC lifted its stake in shares of EQT by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock valued at $663,552,000 after purchasing an additional 429,733 shares during the period. Capital International Investors boosted its position in shares of EQT by 21.3% during the 4th 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 in the last quarter. Clearbridge Investments LLC grew its stake in EQT by 14.7% during the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock worth $637,698,000 after purchasing an additional 1,774,696 shares during the period. Finally, Invesco Ltd. increased its holdings 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 purchasing an additional 4,162,065 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EQT shares. Wells Fargo & Company increased their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Mizuho increased their target price on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $55.00 to $54.00 in a research note on Friday, January 17th. StockNews.com cut shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Finally, Jefferies Financial Group boosted their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.39.

EQT Price Performance

Shares of NYSE:EQT opened at $50.34 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $30.14 billion, a PE ratio of 125.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The stock’s fifty day simple moving average is $50.21 and its two-hundred day simple moving average is $47.39. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66.

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

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s dividend payout ratio is presently 110.53%.

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.