Advisory Services Network LLC Purchases 4,589 Shares of EQT Co. (NYSE:EQT)

Advisory Services Network LLC boosted its position in EQT Co. (NYSE:EQT) by 53.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,160 shares of the oil and gas producer’s stock after purchasing an additional 4,589 shares during the period. Advisory Services Network LLC’s holdings in EQT were worth $607,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC grew its position in EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after buying an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its stake in shares of EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after acquiring an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock valued at $2,379,000 after acquiring an additional 16,416 shares during the period. D.A. Davidson & CO. increased its stake in shares of EQT by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 762 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in EQT by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock worth $1,914,000 after purchasing an additional 5,489 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

EQT stock opened at $50.71 on Wednesday. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The firm has a market capitalization of $30.30 billion, a P/E ratio of 126.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a fifty day simple moving average of $50.86 and a two-hundred day simple moving average of $46.38. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.24%. EQT’s payout ratio is presently 157.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EQT. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Mizuho upped their price target on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Wells Fargo & Company raised their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $67.00 price target (up previously from $63.00) on shares of EQT in a research note on Wednesday, March 26th. Two 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.61.

EQT Company 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.