Cannell & Spears LLC Has $62.21 Million Stock Holdings in EQT Co. (NYSE:EQT)

Cannell & Spears LLC grew its position in EQT Co. (NYSE:EQT) by 135.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,349,242 shares of the oil and gas producer’s stock after buying an additional 775,722 shares during the period. EQT accounts for approximately 1.3% of Cannell & Spears LLC’s investment portfolio, making the stock its 18th largest holding. Cannell & Spears LLC owned approximately 0.23% of EQT worth $62,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock worth $218,000 after buying an additional 223 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in EQT by 15.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock valued at $79,000 after buying an additional 236 shares during the period. Finally, Radnor Capital Management LLC boosted its stake in EQT by 0.4% in 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 acquiring an additional 237 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Stock Up 1.4 %

EQT stock opened at $53.07 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a market capitalization of $31.71 billion, a P/E ratio of 132.68, a P/E/G ratio of 0.64 and a beta of 1.12. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The business has a 50-day moving average of $51.38 and a 200-day moving average of $45.02.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. On average, sell-side analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.19%. EQT’s payout ratio is currently 157.50%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group upped their target price on shares of EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their target price for the company from $48.00 to $57.00 in a research note on Monday, December 16th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Finally, Stephens upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $41.00 to $59.00 in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus price target of $55.11.

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.