Farther Finance Advisors LLC Boosts Stake in EQT Co. (NYSE:EQT)

Farther Finance Advisors LLC grew its holdings in shares of EQT Co. (NYSE:EQT) by 91.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,522 shares of the oil and gas producer’s stock after purchasing an additional 4,075 shares during the period. Farther Finance Advisors LLC’s holdings in EQT were worth $459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $45,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of 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 valued at $48,000 after purchasing an additional 193 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of EQT during the 4th quarter valued at $55,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of 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 valued at $55,000 after purchasing an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $56.82 on Monday. The business’s 50-day moving average is $53.14 and its two-hundred day moving average is $50.67. The company has a market capitalization of $34.02 billion, a P/E ratio of 142.06, a P/E/G ratio of 0.64 and a beta of 0.65. 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 Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.37.

EQT (NYSE:EQT) last announced its quarterly earnings results 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 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. Research analysts predict that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.11%. EQT’s dividend payout ratio is presently 110.53%.

Analysts Set New Price Targets

EQT has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. UBS Group raised EQT from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Scotiabank reissued a “sector perform” rating and issued a $62.00 target price (up from $57.00) on shares of EQT in a research report on Thursday, May 22nd. Finally, Stephens cut their target price on EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.11.

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.