Palo Duro Investment Partners LP Has $78.30 Million Stock Holdings in EQT Co. (NYSE:EQT)

Palo Duro Investment Partners LP reduced its stake in shares of EQT Co. (NYSE:EQT) by 21.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,698,038 shares of the oil and gas producer’s stock after selling 467,129 shares during the quarter. EQT accounts for approximately 22.9% of Palo Duro Investment Partners LP’s holdings, making the stock its 2nd biggest position. Palo Duro Investment Partners LP owned 0.28% of EQT worth $78,297,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of EQT in the 4th quarter worth about $55,000. First Horizon Advisors Inc. grew its holdings in shares of EQT by 33.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 298 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of EQT by 1,343.8% in the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after purchasing an additional 1,290 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock opened at $56.18 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $33.63 billion, a P/E ratio of 140.45, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The company’s 50 day moving average price is $51.10 and its two-hundred day moving average price is $48.43. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.82.

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

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.12%. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Analyst Upgrades and Downgrades

EQT has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. Stephens decreased their price objective on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, Citigroup increased their price objective on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

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.