Proficio Capital Partners LLC Makes New $5.12 Million Investment in EQT Co. (NYSE:EQT)

Proficio Capital Partners LLC acquired a new stake in EQT Co. (NYSE:EQT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 111,012 shares of the oil and gas producer’s stock, valued at approximately $5,119,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its holdings in EQT by 15.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 21,738 shares of the oil and gas producer’s stock valued at $1,002,000 after purchasing an additional 2,863 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of EQT by 203.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 80,126 shares of the oil and gas producer’s stock valued at $3,695,000 after buying an additional 53,739 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of EQT by 2.6% in the fourth quarter. New York Life Investment Management LLC now owns 80,453 shares of the oil and gas producer’s stock valued at $3,710,000 after buying an additional 2,012 shares during the period. Oregon Public Employees Retirement Fund grew its position in EQT by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 51,190 shares of the oil and gas producer’s stock worth $2,360,000 after buying an additional 370 shares in the last quarter. Finally, National Pension Service grew its position in EQT by 15.0% during the fourth quarter. National Pension Service now owns 870,013 shares of the oil and gas producer’s stock worth $40,116,000 after buying an additional 113,600 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Up 1.2 %

EQT stock opened at $48.77 on Tuesday. The business has a fifty day moving average price of $50.26 and a 200 day moving average price of $42.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 121.93, a P/E/G ratio of 0.64 and a beta of 1.08.

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 analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Analysts expect that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s dividend payout ratio is presently 157.50%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQT. Piper Sandler raised their price objective on EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Truist Financial lifted their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, 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 note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.39.

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.