Robertson Stephens Wealth Management LLC Buys New Stake in EQT Corporation (NYSE:EQT)

Robertson Stephens Wealth Management LLC bought a new position in shares of EQT Corporation (NYSE:EQT) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,216 shares of the oil and gas producer’s stock, valued at approximately $279,000.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of EQT by 37.4% in the fourth quarter. Allworth Financial LP now owns 2,876 shares of the oil and gas producer’s stock valued at $133,000 after acquiring an additional 783 shares during the period. J.W. Cole Advisors Inc. raised its stake in EQT by 26.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 7,732 shares of the oil and gas producer’s stock valued at $357,000 after purchasing an additional 1,611 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in EQT by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 709,517 shares of the oil and gas producer’s stock valued at $32,716,000 after purchasing an additional 8,803 shares during the period. Sanctuary Advisors LLC boosted its holdings in EQT by 2.2% in the 4th quarter. Sanctuary Advisors LLC now owns 64,911 shares of the oil and gas producer’s stock valued at $2,993,000 after purchasing an additional 1,404 shares during the period. Finally, CIBC Asset Management Inc grew its position in EQT by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 90,492 shares of the oil and gas producer’s stock worth $4,173,000 after purchasing an additional 4,139 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Up 0.9%

EQT opened at $59.40 on Friday. The firm has a market cap of $35.56 billion, a price-to-earnings ratio of 104.21, a PEG ratio of 0.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The firm’s 50-day simple moving average is $53.94 and its 200-day simple moving average is $50.98. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $60.20.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Equities research analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a dividend of $0.1575 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.06%. EQT’s dividend payout ratio is 110.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho upped their price target on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, April 1st. Piper Sandler lifted their price objective on EQT from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Stephens lowered their price objective on EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup raised their target price on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $57.39.

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.