Two Creeks Capital Management LP Acquires New Shares in EQT Co. (NYSE:EQT)

by · The Cerbat Gem

Two Creeks Capital Management LP bought a new position in shares of EQT Co. (NYSE:EQT – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,098,617 shares of the oil and gas producer’s stock, valued at approximately $50,657,000. EQT makes up about 3.1% of Two Creeks Capital Management LP’s portfolio, making the stock its 17th biggest position. Two Creeks Capital Management LP owned 0.18% of EQT at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EQT. Parkside Financial Bank & Trust increased its holdings in 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 worth $48,000 after purchasing an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of EQT by 4.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after buying an additional 223 shares during the period. Huntington National Bank raised its holdings in EQT by 7.4% in the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock valued at $151,000 after buying an additional 224 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in EQT by 15.9% during the 4th 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 period. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Citigroup upped their price target on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 17th. StockNews.com downgraded EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Wells Fargo & Company lifted their target price on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price target on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Finally, Stephens cut their price objective on EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.50.

Check Out Our Latest Stock Report on EQT

EQT Price Performance

Shares of NYSE EQT opened at $48.49 on Wednesday. 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 firm’s 50-day moving average price is $50.56 and its 200-day moving average price is $46.83. The firm has a market capitalization of $28.97 billion, a P/E ratio of 121.23, a P/E/G ratio of 0.64 and a beta of 1.35. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66.

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

EQT Announces Dividend

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 given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s payout ratio is presently 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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