Counterpoint Mutual Funds LLC Takes $298,000 Position in EQT Co. (NYSE:EQT)

Counterpoint Mutual Funds LLC purchased a new stake in EQT Co. (NYSE:EQT) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,463 shares of the oil and gas producer’s stock, valued at approximately $298,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in shares of EQT by 21.3% in the fourth quarter. Signaturefd LLC now owns 10,934 shares of the oil and gas producer’s stock valued at $504,000 after buying an additional 1,922 shares during the period. Parallel Advisors LLC lifted its position in shares of EQT by 1.6% in the fourth quarter. Parallel Advisors LLC now owns 26,998 shares of the oil and gas producer’s stock worth $1,245,000 after purchasing an additional 428 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of EQT by 244.9% in the fourth quarter. Cibc World Markets Corp now owns 272,221 shares of the oil and gas producer’s stock worth $12,552,000 after purchasing an additional 193,288 shares in the last quarter. Addison Capital Co bought a new stake in shares of EQT in the fourth quarter worth $205,000. Finally, Ninepoint Partners LP bought a new stake in shares of EQT in the fourth quarter worth $23,055,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

NYSE:EQT opened at $52.55 on Wednesday. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a market cap of $31.40 billion, a P/E ratio of 131.38, a P/E/G ratio of 0.64 and a beta of 1.12. The firm’s fifty day moving average price is $50.98 and its two-hundred day moving average price is $43.85. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

EQT (NYSE:EQT) last released its quarterly earnings data 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 net margin of 4.37% and a return on equity of 4.35%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. Equities analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.20%. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. Morgan Stanley boosted their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Citigroup boosted their price objective on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Piper Sandler boosted their price objective on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $54.22.

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.