SCP Investment LP Acquires Shares of 17,800 EQT Co. (NYSE:EQT)

SCP Investment LP purchased a new stake in EQT Co. (NYSE:EQT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 17,800 shares of the oil and gas producer’s stock, valued at approximately $681,000. EQT comprises 0.6% of SCP Investment LP’s portfolio, making the stock its 15th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in EQT by 15.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,865,008 shares of the oil and gas producer’s stock valued at $149,421,000 after buying an additional 519,294 shares during the period. National Bank of Canada FI boosted its position in shares of EQT by 600.0% in the 4th quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock worth $3,731,000 after purchasing an additional 82,176 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of EQT by 16.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,601 shares of the oil and gas producer’s stock worth $216,000 after purchasing an additional 801 shares during the period. Amalgamated Bank increased its holdings in EQT by 5.1% in the fourth quarter. Amalgamated Bank now owns 119,208 shares of the oil and gas producer’s stock valued at $4,609,000 after purchasing an additional 5,803 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in EQT by 1.3% during the fourth quarter. Natixis Advisors L.P. now owns 428,912 shares of the oil and gas producer’s stock worth $16,581,000 after buying an additional 5,374 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EQT. Piper Sandler reissued an “overweight” rating and set a $46.00 price objective (up previously from $41.00) on shares of EQT in a research note on Tuesday, April 30th. Morgan Stanley upped their price objective on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Mizuho boosted their target price on EQT from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. StockNews.com raised EQT to a “sell” rating in a research report on Tuesday, March 12th. Finally, Truist Financial decreased their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has an average rating of “Hold” and a consensus price target of $44.69.

EQT Stock Performance

NYSE EQT traded up $0.11 on Thursday, hitting $40.02. 3,929,622 shares of the stock were exchanged, compared to its average volume of 6,527,438. The company has a market capitalization of $17.67 billion, a PE ratio of 29.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average is $37.11 and its 200 day moving average is $37.78. EQT Co. has a 52 week low of $31.58 and a 52 week high of $45.23.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $1.70 EPS. EQT’s quarterly revenue was down 28.8% compared to the same quarter last year. Research analysts anticipate that EQT Co. will post 1.14 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th 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 1.57%. The ex-dividend date is Tuesday, May 7th. EQT’s payout ratio is presently 45.65%.

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.