Rinkey Investments Takes Position in EQT Co. (NYSE:EQT)

by · The Cerbat Gem

Rinkey Investments acquired a new stake in shares of EQT Co. (NYSE:EQT – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,500 shares of the oil and gas producer’s stock, valued at approximately $207,000.

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

EQT Stock Up 2.9 %

NYSE:EQT opened at $50.26 on Friday. The stock’s fifty day moving average price is $50.31 and its two-hundred day moving average price is $47.01. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 125.65, a P/E/G ratio of 0.64 and a beta of 1.35. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

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, topping 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 analyst estimates of $2.16 billion. On average, analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 1.25%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is 157.50%.

Analysts Set New Price Targets

EQT has been the subject of several research reports. Piper Sandler reduced their target price on shares of EQT from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Truist Financial raised their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and a consensus target price of $55.39.

Get Our Latest Analysis on EQT

EQT Profile

(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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