Dorsey Wright & Associates Takes $211,000 Position in EQT Co. (NYSE:EQT)

Dorsey Wright & Associates bought a new stake in EQT Co. (NYSE:EQT) during the fourth quarter, Holdings Channel.com reports. The fund bought 4,584 shares of the oil and gas producer’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its holdings in shares of EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Retirement Systems of Alabama grew its stake in 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 buying an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in EQT by 44.2% in the fourth 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 buying an additional 16,416 shares during the last quarter. FMR LLC boosted its holdings in shares of EQT by 2.5% in the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Finally, D.A. Davidson & CO. grew its position in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after acquiring an additional 762 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Trading Up 1.4 %

Shares of EQT stock opened at $53.07 on Friday. The company has a 50-day moving average of $51.38 and a two-hundred day moving average of $44.93. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $31.71 billion, a PE ratio of 132.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

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

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.19%. EQT’s payout ratio is 157.50%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQT. JPMorgan Chase & Co. upped their price target on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. UBS Group boosted their price target on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. Finally, Jefferies Financial Group boosted their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.11.

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.