Seldon Capital LP Takes Position in EQT Co. (NYSE:EQT)

Seldon Capital LP purchased a new position in shares of EQT Co. (NYSE:EQT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 115,630 shares of the oil and gas producer’s stock, valued at approximately $5,332,000. EQT accounts for about 2.2% of Seldon Capital LP’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQT. EverSource Wealth Advisors LLC grew its holdings in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 193 shares during the period. Stonebridge Financial Group LLC purchased a new position in EQT in the fourth quarter worth $55,000. First Horizon Advisors Inc. grew its stake in EQT by 33.1% in the 4th 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, Larson Financial Group LLC increased its position in shares of EQT by 1,343.8% during the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT stock opened at $51.01 on Friday. The firm has a 50 day moving average of $50.75 and a 200-day moving average of $46.68. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $30.47 billion, a P/E ratio of 127.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.81 billion. As a group, sell-side analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.24%. EQT’s payout ratio is currently 157.50%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQT. JPMorgan Chase & Co. boosted their price target on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Wells Fargo & Company boosted their target price on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Finally, The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.56.

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.