Daymark Wealth Partners LLC Increases Stake in EQT Co. (NYSE:EQT)

Daymark Wealth Partners LLC increased its position in shares of EQT Co. (NYSE:EQT) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 31,072 shares of the oil and gas producer’s stock after buying an additional 3,417 shares during the quarter. Daymark Wealth Partners LLC’s holdings in EQT were worth $1,433,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of EQT during the third quarter worth $562,494,000. State Street Corp increased its holdings in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC raised its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after buying an additional 3,582,418 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in EQT during the 3rd quarter worth about $97,979,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EQT. Scotiabank lowered EQT from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. Wells Fargo & Company boosted their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Truist Financial upped their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Monday, December 30th. Finally, BMO Capital Markets upped their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.89.

EQT Stock Performance

NYSE:EQT opened at $53.39 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $31.86 billion, a price-to-earnings ratio of 63.57 and a beta of 1.12. The firm’s fifty day moving average price is $46.20 and its 200 day moving average price is $39.03. EQT Co. has a 1-year low of $30.02 and a 1-year high of $54.85.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, sell-side analysts expect that EQT Co. will post 1.42 EPS for the current year.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares of the company’s stock, 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 through this hyperlink. 0.63% of the stock is owned by corporate insiders.

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.