Mascagni Wealth Management Inc. Makes New Investment in EQT Co. (NYSE:EQT)

Mascagni Wealth Management Inc. bought a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,198 shares of the oil and gas producer’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EQT. University of Texas Texas AM Investment Management Co. raised its holdings in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 310 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of 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 raised its holdings in shares of EQT by 22.7% during the fourth 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 acquired a new stake in shares of EQT during the fourth quarter worth $55,000. Finally, First Horizon Advisors Inc. raised its holdings 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 purchasing an additional 298 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. UBS Group raised shares of EQT from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $64.00 in a report on Monday, May 5th. Scotiabank reaffirmed a “sector perform” rating and issued a $62.00 price objective (up previously from $57.00) on shares of EQT in a report on Thursday, May 22nd. Mizuho increased their price objective on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. 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 company’s stock. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average price target of $57.11.

EQT Stock Performance

NYSE:EQT opened at $55.36 on Friday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $57.37. 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 company has a 50-day moving average of $52.28 and a 200-day moving average of $49.78. The firm has a market cap of $33.14 billion, a price-to-earnings ratio of 138.40, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.16 billion. Analysts forecast that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

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. This represents a $0.63 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Wednesday, May 7th. EQT’s payout ratio is 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.