Sequoia Financial Advisors LLC Buys 932 Shares of EQT Corporation (NYSE:EQT)

Sequoia Financial Advisors LLC raised its stake in EQT Corporation (NYSE:EQT) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,472 shares of the oil and gas producer’s stock after acquiring an additional 932 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in EQT were worth $346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after buying an additional 4,162,065 shares during the last quarter. Slate Path Capital LP bought a new position in EQT in the 4th quarter valued at approximately $123,575,000. Castle Hook Partners LP raised its holdings in EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock valued at $184,012,000 after buying an additional 2,658,375 shares during the last quarter. Raymond James Financial Inc. bought a new position in EQT in the 4th quarter valued at approximately $113,924,000. Finally, Capital International Investors raised its holdings in EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after buying an additional 2,433,632 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 17th. Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. TD Cowen upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. Roth Capital assumed coverage on shares of EQT in a report on Tuesday, June 24th. They issued a “buy” rating and a $69.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

EQT Stock Performance

Shares of EQT stock opened at $55.36 on Friday. The company has a market cap of $33.14 billion, a price-to-earnings ratio of 97.12, a price-to-earnings-growth ratio of 0.34 and a beta of 0.65. EQT Corporation has a 52 week low of $30.02 and a 52 week high of $61.02. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The firm has a 50 day moving average of $55.61 and a 200-day moving average of $51.91.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. On average, equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

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

EQT Profile

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.