MTM Investment Management LLC Has $525,000 Stake in EQT Co. (NYSE:EQT)

MTM Investment Management LLC boosted its position in EQT Co. (NYSE:EQT) by 36.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,381 shares of the oil and gas producer’s stock after buying an additional 3,029 shares during the period. MTM Investment Management LLC’s holdings in EQT were worth $525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EQT. HM Payson & Co. acquired a new position in EQT in the third quarter valued at $25,000. Truvestments Capital LLC acquired a new position in shares of EQT during the third quarter valued at about $30,000. Quarry LP raised its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of EQT during the third quarter valued at about $36,000. Finally, Financial Avengers Inc. raised its holdings in shares of EQT by 100.8% during the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value 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 represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

EQT Stock Down 2.6 %

EQT stock opened at $52.36 on Thursday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $54.85. The firm has a 50 day moving average price of $48.32 and a 200-day moving average price of $40.73. The company has a market capitalization of $31.24 billion, a P/E ratio of 62.33, a P/E/G ratio of 0.62 and a beta of 1.08. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

EQT has been the topic of several research reports. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. Morgan Stanley upped their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Piper Sandler upped their price objective on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Wells Fargo & Company upped their price objective on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 target price on shares of EQT in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.22.

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.