Brown Advisory Inc. Raises Stock Holdings in EQT Corporation (NYSE:EQT)

Brown Advisory Inc. boosted its stake in EQT Corporation (NYSE:EQT) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,405 shares of the oil and gas producer’s stock after buying an additional 2,386 shares during the period. Brown Advisory Inc.’s holdings in EQT were worth $1,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atria Investments Inc increased its stake in EQT by 35.7% during the fourth quarter. Atria Investments Inc now owns 7,460 shares of the oil and gas producer’s stock worth $344,000 after purchasing an additional 1,961 shares during the period. Proficio Capital Partners LLC purchased a new stake in EQT during the fourth quarter worth about $5,119,000. Sequoia Financial Advisors LLC purchased a new stake in EQT during the fourth quarter worth about $255,000. EverSource Wealth Advisors LLC increased its stake 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 worth $45,000 after purchasing an additional 205 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in EQT by 10.2% during the fourth quarter. Farther Finance Advisors LLC now owns 4,447 shares of the oil and gas producer’s stock worth $205,000 after purchasing an additional 410 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Price Performance

EQT stock opened at $55.33 on Monday. The company has a market capitalization of $33.13 billion, a P/E ratio of 97.07, a PEG ratio of 0.35 and a beta of 0.65. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02. The business has a 50 day simple moving average of $56.14 and a 200-day simple moving average of $52.50. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT) last posted its quarterly earnings data 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 5.52% and a net margin of 6.59%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were paid 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 of this dividend was Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EQT. Wells Fargo & Company boosted their price target on shares of EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Tuesday, April 8th. Barclays initiated coverage on EQT in a research report on Monday, July 7th. They set an “overweight” rating and a $65.00 price objective for the company. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. Finally, Scotiabank boosted their price objective on EQT from $62.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.15.

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.