Cary Street Partners Financial LLC Invests $125,000 in EQT Co. (NYSE:EQT)

Cary Street Partners Financial LLC purchased a new position in EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,705 shares of the oil and gas producer’s stock, valued at approximately $125,000.

Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position 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 acquiring an additional 205 shares during the period. Parkside Financial Bank & Trust lifted its stake in EQT by 22.7% in the fourth 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. Stonebridge Financial Group LLC purchased a new position in EQT in the fourth quarter valued at approximately $55,000. First Horizon Advisors Inc. grew its holdings in EQT by 33.1% during the fourth 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 period. Finally, Larson Financial Group LLC increased its position in EQT by 1,343.8% in the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 1,290 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 3.5%

Shares of EQT stock opened at $55.28 on Monday. The company has a market capitalization of $33.09 billion, a PE ratio of 138.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.97. The business’s fifty day moving average is $50.81 and its 200 day moving average is $48.26. 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) last released 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. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, equities research analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio is currently 110.53%.

Analysts Set New Price Targets

A number of research analysts have recently commented on EQT shares. Citigroup upped their price target on EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Wells Fargo & Company upped their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Mizuho boosted their price target on shares of EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Finally, TD Cowen raised 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.94.

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.