Telemark Asset Management LLC Acquires Shares of 300,000 EQT Co. (NYSE:EQT)

by · The Cerbat Gem

Telemark Asset Management LLC acquired a new stake in EQT Co. (NYSE:EQT – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 300,000 shares of the oil and gas producer’s stock, valued at approximately $13,833,000. EQT accounts for approximately 1.4% of Telemark Asset Management LLC’s investment portfolio, making the stock its 24th biggest position. Telemark Asset Management LLC owned 0.05% of EQT as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in EQT in the 3rd quarter valued at $30,000. Quarry LP grew its stake in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of EQT during the 3rd quarter worth $36,000. Financial Avengers Inc. grew its stake in shares of EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 504 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares during the period. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EQT. Piper Sandler increased their price target on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research note on Wednesday, January 15th. Truist Financial increased their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, Morgan Stanley increased their price target on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $52.44.

Read Our Latest Report on EQT

EQT Stock Performance

NYSE:EQT opened at $49.03 on Thursday. The business’s 50-day moving average price is $50.71 and its two-hundred day moving average price is $43.28. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The stock has a market cap of $29.29 billion, a P/E ratio of 122.57, a PEG ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT – Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, equities analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.29%. EQT’s payout ratio is currently 157.50%.

About EQT

(Free Report)

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.

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