CenterBook Partners LP Purchases Shares of 47,652 EQT Co. (NYSE:EQT)

CenterBook Partners LP acquired a new position in EQT Co. (NYSE:EQT) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 47,652 shares of the oil and gas producer’s stock, valued at approximately $2,197,000.

Other large investors have also recently made changes to their positions in the company. Invesco Ltd. raised its stake in EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after acquiring an additional 4,162,065 shares during the period. Geode Capital Management LLC increased its stake in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the period. Raymond James Financial Inc. purchased a new position in shares of EQT during the 4th quarter valued at $113,924,000. Finally, Clearbridge Investments LLC boosted its holdings in EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock worth $637,698,000 after buying an additional 1,774,696 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

NYSE EQT opened at $50.07 on Thursday. The business’s 50 day moving average price is $51.06 and its 200-day moving average price is $45.99. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The company has a market cap of $29.92 billion, a P/E ratio of 125.19, a P/E/G ratio of 0.64 and a beta of 1.35. 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 announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. Sell-side analysts predict that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.26%. EQT’s dividend payout ratio is 157.50%.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. UBS Group dropped their price target on EQT from $58.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Jefferies Financial Group increased their price objective on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Mizuho boosted their target price on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, StockNews.com cut shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday. Two investment 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’s stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average target price of $55.72.

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.