HB Wealth Management LLC Increases Holdings in EQT Co. (NYSE:EQT)

HB Wealth Management LLC boosted its position in EQT Co. (NYSE:EQT) by 29.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,737 shares of the oil and gas producer’s stock after purchasing an additional 4,048 shares during the period. HB Wealth Management LLC’s holdings in EQT were worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. HM Payson & Co. acquired a new position in shares of EQT in the 3rd quarter valued at about $25,000. Truvestments Capital LLC acquired a new stake in shares of EQT during the 3rd quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its stake in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the period. Quarry LP increased its holdings in shares of 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 in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of EQT in the 3rd quarter valued at $36,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on EQT shares. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. Jefferies Financial Group upped their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Finally, Morgan Stanley lifted their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

EQT Stock Up 0.7 %

NYSE EQT opened at $53.33 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 52 week low of $30.02 and a 52 week high of $53.98. The business’s fifty day simple moving average is $46.01 and its 200-day simple moving average is $38.91. The firm has a market cap of $31.82 billion, a PE ratio of 63.48 and a beta of 1.12.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. As a group, equities analysts anticipate that EQT Co. will post 1.42 earnings per share for the current year.

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.