Proficio Capital Partners LLC Makes New Investment in EQT Co. (NYSE:EQT)

Proficio Capital Partners LLC acquired a new stake in shares of EQT Co. (NYSE:EQT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 111,012 shares of the oil and gas producer’s stock, valued at approximately $5,119,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in shares of EQT in the 3rd quarter valued at approximately $30,000. Quarry LP raised its stake in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of EQT in the third quarter valued at $36,000. Financial Avengers Inc. boosted its position in shares of EQT by 100.8% in the third quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 504 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of EQT during the fourth quarter valued at $55,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of NYSE EQT opened at $48.77 on Tuesday. The business’s 50-day simple moving average is $50.26 and its 200-day simple moving average is $42.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 121.93, a P/E/G ratio of 0.64 and a beta of 1.08.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. As a group, equities research analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s dividend payout ratio is 157.50%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EQT shares. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Truist Financial increased their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 15th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.39.

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.