Steph & Co. Raises Stake in EQT Co. (NYSE:EQT)

Steph & Co. raised its stake in shares of EQT Co. (NYSE:EQT) by 27.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,480 shares of the oil and gas producer’s stock after buying an additional 1,618 shares during the quarter. Steph & Co.’s holdings in EQT were worth $345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connective Portfolio Management LLC purchased a new position in shares of EQT during the 4th quarter valued at $1,752,000. Rockingstone Advisors LLC boosted its stake in EQT by 320.3% during the fourth quarter. Rockingstone Advisors LLC now owns 45,350 shares of the oil and gas producer’s stock valued at $2,091,000 after buying an additional 34,560 shares during the period. Radnor Capital Management LLC boosted its stake in EQT by 0.4% during the fourth quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock valued at $2,810,000 after buying an additional 237 shares during the period. Park Avenue Securities LLC purchased a new position in EQT during the fourth quarter worth about $364,000. Finally, Assenagon Asset Management S.A. increased its stake in EQT by 216.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,397,551 shares of the oil and gas producer’s stock worth $64,441,000 after acquiring an additional 956,495 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is owned by insiders.

EQT Price Performance

Shares of NYSE EQT opened at $52.38 on Thursday. EQT Co. has a 1 year low of $30.02 and a 1 year high of $53.00. The stock has a market capitalization of $31.25 billion, a P/E ratio of 62.36 and a beta of 1.12. The company’s 50-day moving average is $45.09 and its 200 day moving average is $38.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 EPS. On average, sell-side analysts expect that EQT Co. will post 1.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

EQT has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. UBS Group boosted their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a report on Wednesday. Wells Fargo & Company lifted their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Bank of America started coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.94.

About EQT

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.