Entropy Technologies LP Makes New Investment in EQT Co. (NYSE:EQT)

Entropy Technologies LP purchased a new position in EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 65,233 shares of the oil and gas producer’s stock, valued at approximately $3,008,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. State Street Corp lifted its holdings in shares of EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Modera Wealth Management LLC bought a new position in shares of EQT during the 3rd quarter worth about $562,494,000. Geode Capital Management LLC lifted its holdings in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of EQT by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after acquiring an additional 1,108,134 shares during the period. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EQT shares. JPMorgan Chase & Co. lifted their price target on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Citigroup boosted their target price on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Stephens boosted their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred 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 directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by corporate insiders.

EQT Trading Down 0.6 %

EQT opened at $51.11 on Friday. The company’s 50 day moving average is $47.96 and its 200-day moving average is $40.38. EQT Co. has a 1-year low of $30.02 and a 1-year high of $54.85. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $30.50 billion, a P/E ratio of 60.84, a PEG ratio of 0.62 and a beta of 1.08.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.23%. EQT’s dividend payout ratio is presently 75.00%.

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.