Golden State Wealth Management LLC Buys New Shares in EQT Corporation (NYSE:EQT)

Golden State Wealth Management LLC bought a new stake in EQT Corporation (NYSE:EQT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,548 shares of the oil and gas producer’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Truist Financial Corp raised its holdings in shares of EQT by 18.0% during the fourth quarter. Truist Financial Corp now owns 28,638 shares of the oil and gas producer’s stock valued at $1,321,000 after purchasing an additional 4,375 shares during the period. Global Retirement Partners LLC raised its holdings in shares of EQT by 86.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,696 shares of the oil and gas producer’s stock valued at $124,000 after purchasing an additional 1,249 shares during the period. Ieq Capital LLC acquired a new position in shares of EQT during the fourth quarter valued at about $227,000. First Horizon Advisors Inc. raised its holdings in shares of EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 298 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new position in shares of EQT during the fourth quarter valued at about $214,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group upgraded shares of EQT from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $64.00 in a report on Monday, May 5th. JPMorgan Chase & Co. upped their target price on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Morgan Stanley upped their target price on shares of EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Mizuho upped their target price on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Finally, Piper Sandler upped their target price on shares of EQT from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

EQT Trading Up 0.3%

Shares of EQT stock opened at $58.32 on Friday. EQT Corporation has a 52-week low of $30.02 and a 52-week high of $61.02. 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 company has a 50-day simple moving average of $54.97 and a two-hundred day simple moving average of $51.61. The company has a market capitalization of $34.91 billion, a price-to-earnings ratio of 102.32, a PEG ratio of 0.35 and a beta of 0.65.

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

EQT Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s dividend payout ratio is currently 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.