Farringdon Capital Ltd. Purchases New Stake in EQT Co. (NYSE:EQT)

Farringdon Capital Ltd. acquired a new position in shares of EQT Co. (NYSE:EQT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,948 shares of the oil and gas producer’s stock, valued at approximately $413,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Marshall Wace LLP boosted its holdings in shares of EQT by 32.3% during the 4th quarter. Marshall Wace LLP now owns 883,807 shares of the oil and gas producer’s stock worth $40,752,000 after buying an additional 215,618 shares during the period. United Capital Financial Advisors LLC boosted its holdings in shares of EQT by 13.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 13,670 shares of the oil and gas producer’s stock worth $630,000 after acquiring an additional 1,639 shares during the period. Rossby Financial LCC bought a new position in shares of EQT during the fourth quarter worth approximately $1,194,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of EQT in the fourth quarter valued at about $290,000. Finally, XTX Topco Ltd acquired a new stake in EQT during the fourth quarter worth approximately $3,672,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on EQT. Citigroup lifted their target price on EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Finally, UBS Group reduced their price objective on EQT from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.56.

EQT Trading Up 0.3 %

NYSE:EQT opened at $51.01 on Friday. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The firm’s fifty day moving average is $50.80 and its 200-day moving average is $46.51. The firm has a market cap of $30.47 billion, a P/E ratio of 127.52, a P/E/G ratio of 0.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Equities analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders 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 yield of 1.24%. EQT’s payout ratio is currently 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.