GAMMA Investing LLC Invests $169,000 in EQT Co. (NYSE:EQT)

GAMMA Investing LLC purchased a new position in EQT Co. (NYSE:EQT) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,781 shares of the oil and gas producer’s stock, valued at approximately $169,000.

Other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of EQT in the fourth quarter worth $40,000. Allworth Financial LP raised its holdings in shares of EQT by 26.9% in the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after acquiring an additional 282 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in EQT in the third quarter valued at $54,000. Massmutual Trust Co. FSB ADV increased its stake in EQT by 52.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 539 shares during the last quarter. Finally, CX Institutional acquired a new position in EQT in the fourth quarter valued at $64,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EQT shares. Jefferies Financial Group upped their target price on EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Stephens upped their target price on EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Wednesday. Mizuho upped their target price on EQT from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 target price (down from $39.00) on shares of EQT in a research note on Wednesday, March 20th. Finally, Sanford C. Bernstein upgraded EQT from an “underperform” rating to a “market perform” rating and upped their target price for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.25.

EQT Price Performance

Shares of NYSE EQT opened at $40.61 on Friday. EQT Co. has a 1-year low of $30.84 and a 1-year high of $45.23. The business has a 50-day moving average of $36.43 and a 200-day moving average of $37.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.99. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 29.43 and a beta of 1.12.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $1.70 earnings per share. The company’s revenue was down 28.8% compared to the same quarter last year. On average, equities analysts anticipate that EQT Co. will post 0.99 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is 45.65%.

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.