Horizon Investments LLC Grows Stake in EQT Co. (NYSE:EQT)

Horizon Investments LLC raised its position in shares of EQT Co. (NYSE:EQT) by 17.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,472 shares of the oil and gas producer’s stock after purchasing an additional 4,060 shares during the period. Horizon Investments LLC’s holdings in EQT were worth $1,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQT. Sanctuary Advisors LLC lifted its stake in EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after acquiring an additional 32,484 shares during the period. Retirement Systems of Alabama lifted its position in shares of EQT by 36.7% in 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 purchasing an additional 35,733 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 worth $2,379,000 after buying an additional 16,416 shares in the last quarter. FMR LLC lifted its holdings in EQT by 2.5% during the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after buying an additional 28,129 shares during the period. Finally, D.A. Davidson & CO. boosted its position in EQT by 13.4% during the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 762 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Piper Sandler lifted their price objective on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Morgan Stanley lifted their price target on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average target price of $54.50.

EQT Price Performance

Shares of NYSE:EQT opened at $53.54 on Thursday. EQT Co. has a twelve month low of $30.02 and a twelve 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 company has a market cap of $31.99 billion, a PE ratio of 133.85, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company’s 50 day moving average is $51.07 and its 200 day moving average is $43.92.

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

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. EQT’s dividend payout ratio (DPR) is presently 157.50%.

EQT Company 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.