FORA Capital LLC Invests $708,000 in EQT Co. (NYSE:EQT)

by · The Markets Daily

FORA Capital LLC acquired a new position in EQT Co. (NYSE:EQT – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,359 shares of the oil and gas producer’s stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQT. EverSource Wealth Advisors LLC raised its stake in EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in EQT in the 4th quarter worth approximately $55,000. First Horizon Advisors Inc. grew its position in EQT by 33.1% during the 4th 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 last quarter. Finally, Larson Financial Group LLC increased its stake in EQT by 1,343.8% during the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,290 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 3.5 %

Shares of EQT opened at $55.28 on Friday. The firm has a market cap of $33.09 billion, a P/E ratio of 138.20, a PEG ratio of 0.64 and a beta of 0.59. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The stock’s 50 day moving average is $50.81 and its two-hundred day moving average is $48.10. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

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

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.14%. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Wall Street Analyst Weigh In

EQT has been the subject of several research reports. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research note on Wednesday, January 15th. Stephens dropped their price target on EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Mizuho raised their price objective on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Piper Sandler decreased their target price on EQT from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, StockNews.com downgraded shares of EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.94.

Check Out Our Latest Stock Analysis on EQT

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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