Valueworks LLC Has $10.87 Million Position in EQT Co. (NYSE:EQT)

Valueworks LLC lowered its stake in shares of EQT Co. (NYSE:EQT) by 9.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 235,636 shares of the oil and gas producer’s stock after selling 25,504 shares during the period. EQT makes up 3.6% of Valueworks LLC’s investment portfolio, making the stock its 12th biggest holding. Valueworks LLC’s holdings in EQT were worth $10,865,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in EQT. Park Avenue Securities LLC bought a new stake in EQT in the fourth quarter valued at about $364,000. Merit Financial Group LLC bought a new stake in EQT in the fourth quarter valued at about $214,000. HB Wealth Management LLC grew its stake in EQT by 29.6% during the fourth quarter. HB Wealth Management LLC now owns 17,737 shares of the oil and gas producer’s stock worth $818,000 after buying an additional 4,048 shares during the last quarter. UMB Bank n.a. grew its stake in EQT by 20.3% during the fourth quarter. UMB Bank n.a. now owns 6,087 shares of the oil and gas producer’s stock worth $281,000 after buying an additional 1,026 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in EQT by 15.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Down 0.6%

EQT opened at $55.50 on Tuesday. The firm’s fifty day moving average is $51.71 and its two-hundred day moving average is $49.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The firm has a market cap of $33.22 billion, a PE ratio of 138.75, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. EQT Co. has a twelve month low of $30.02 and a twelve month high of $57.04.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion for 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%. Equities research analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.14%. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Mizuho upped their price objective 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. UBS Group raised shares of EQT from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Citigroup upped their price objective on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Finally, Piper Sandler raised their price target on shares of EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.67.

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.