Dark Forest Capital Management LP Increases Position in EQT Co. (NYSE:EQT)

Dark Forest Capital Management LP boosted its stake in EQT Co. (NYSE:EQT) by 171.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,000 shares of the oil and gas producer’s stock after acquiring an additional 10,103 shares during the period. Dark Forest Capital Management LP’s holdings in EQT were worth $738,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bard Financial Services Inc. bought a new position in EQT during the third quarter worth $878,000. Wilmington Savings Fund Society FSB bought a new position in shares of EQT during the third quarter worth about $165,000. Blankinship & Foster LLC bought a new stake in EQT in the 3rd quarter valued at about $4,051,000. Tidal Investments LLC boosted its stake in EQT by 55.8% during the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after purchasing an additional 21,789 shares during the period. Finally, Synovus Financial Corp bought a new position in EQT in the 3rd quarter worth about $1,069,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on EQT shares. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a report on Monday, January 6th. Morgan Stanley raised their target price on shares of EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Finally, Piper Sandler lowered their price objective on shares of EQT from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday. 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 data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.39.

EQT Price Performance

EQT stock opened at $48.84 on Friday. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The firm has a 50-day moving average of $50.37 and a two-hundred day moving average of $46.92. The firm has a market capitalization of $29.18 billion, a PE ratio of 122.10, a P/E/G ratio of 0.64 and a beta of 1.35. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. On average, analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s payout ratio is 157.50%.

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.