Peapack Gladstone Financial Corp Makes New $227,000 Investment in EQT Co. (NYSE:EQT)

Peapack Gladstone Financial Corp purchased a new stake in EQT Co. (NYSE:EQT) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,931 shares of the oil and gas producer’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP lifted its stake in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares during the period. Financial Avengers Inc. raised its position in shares of EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares during the period. EverSource Wealth Advisors LLC boosted its stake in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in EQT by 22.7% during 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 period. Finally, Stonebridge Financial Group LLC bought a new stake in EQT in the fourth quarter valued at approximately $55,000. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EQT has been the subject of several research analyst reports. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. Wells Fargo & Company boosted their target price on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $67.00 price target (up previously from $63.00) on shares of EQT in a research report on Wednesday, March 26th. Mizuho boosted their price objective on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Finally, UBS Group dropped their target price on shares of EQT from $58.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.72.

EQT Stock Performance

EQT opened at $50.07 on Thursday. The business’s 50-day simple moving average is $51.06 and its 200 day simple moving average is $45.99. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. 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 firm has a market capitalization of $29.92 billion, a PE ratio of 125.19, a PEG ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, sell-side analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

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