Quotient Wealth Partners LLC Acquires New Position in EQT Co. (NYSE:EQT)

Quotient Wealth Partners LLC bought a new position in shares of EQT Co. (NYSE:EQT) during the 4th quarter, Holdings Channel reports. The firm bought 4,854 shares of the oil and gas producer’s stock, valued at approximately $224,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted 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 worth $2,716,968,000 after buying an additional 20,700,921 shares in the last quarter. State Street Corp raised its position in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in shares of EQT in the third quarter valued at about $562,494,000. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 3,582,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of EQT by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock valued at $183,678,000 after purchasing an additional 1,108,134 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQT has been the topic of a number of recent research reports. Citigroup upped their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Bank of America assumed coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Stephens boosted their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

Insider Buying and Selling

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction 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 approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $53.55 on Tuesday. The stock has a market capitalization of $31.95 billion, a P/E ratio of 63.74, a PEG ratio of 0.62 and a beta of 1.08. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average price is $47.96 and its 200 day moving average price is $40.45. EQT Co. has a twelve month low of $30.02 and a twelve month high of $54.85.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Tuesday, February 18th. EQT’s payout ratio is currently 75.00%.

EQT 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.