Flagship Harbor Advisors LLC Takes $226,000 Position in EQT Corporation (NYSE:EQT)

Flagship Harbor Advisors LLC acquired a new stake in EQT Corporation (NYSE:EQT) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,235 shares of the oil and gas producer’s stock, valued at approximately $226,000.

Several other hedge funds have also added to or reduced their stakes in EQT. Invesco Ltd. raised its stake in shares of EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after acquiring an additional 4,162,065 shares during the last quarter. Slate Path Capital LP acquired a new stake in EQT in the fourth quarter valued at $123,575,000. Castle Hook Partners LP raised its position in EQT by 199.5% during the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock worth $184,012,000 after purchasing an additional 2,658,375 shares during the last quarter. Raymond James Financial Inc. acquired a new position in EQT during the 4th quarter worth about $113,924,000. Finally, Capital International Investors grew its position in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock valued at $638,867,000 after buying an additional 2,433,632 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Mizuho raised their price objective on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Piper Sandler increased their target price on shares of EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Roth Capital assumed coverage on shares of EQT in a research report on Tuesday. They issued a “buy” rating and a $69.00 price target 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 note on Monday, June 16th. Finally, Scotiabank reissued a “sector perform” rating and set a $62.00 target price (up previously from $57.00) on shares of EQT in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average price target of $58.00.

EQT Stock Down 0.1%

EQT stock opened at $58.16 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. EQT Corporation has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. The stock’s 50 day simple moving average is $54.82 and its 200 day simple moving average is $51.50. The company has a market cap of $34.82 billion, a P/E ratio of 102.03, a price-to-earnings-growth ratio of 0.36 and a beta of 0.65.

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

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s payout ratio is presently 110.53%.

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.