Oppenheimer Asset Management Inc. Purchases 2,863 Shares of EQT Co. (NYSE:EQT)

Oppenheimer Asset Management Inc. grew its position in EQT Co. (NYSE:EQT) by 15.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 21,738 shares of the oil and gas producer’s stock after acquiring an additional 2,863 shares during the period. Oppenheimer Asset Management Inc.’s holdings in EQT were worth $1,002,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC boosted its position in shares of 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 purchasing an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its position in shares of EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after acquiring an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of EQT by 44.2% during 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 acquiring an additional 16,416 shares during the last quarter. FMR LLC boosted its position in shares of 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 acquiring an additional 28,129 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock worth $1,914,000 after acquiring an additional 5,489 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EQT has been the subject of a number of research reports. Citigroup upped their target price on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 target price on shares of EQT in a research report on Monday, January 6th. Piper Sandler increased their price objective on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Saturday, February 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.39.

EQT Trading Up 2.7 %

Shares of EQT opened at $50.01 on Wednesday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a market cap of $29.88 billion, a P/E ratio of 125.02, a P/E/G ratio of 0.64 and a beta of 1.08. 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’s fifty day simple moving average is $50.37 and its 200-day simple moving average is $42.72.

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

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.26%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio 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.