MTM Investment Management LLC Boosts Holdings in EQT Co. (NYSE:EQT)

MTM Investment Management LLC grew its stake in shares of EQT Co. (NYSE:EQT) by 36.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,381 shares of the oil and gas producer’s stock after buying an additional 3,029 shares during the period. MTM Investment Management LLC’s holdings in EQT were worth $525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in EQT. Van ECK Associates Corp grew its holdings in shares of EQT by 18.2% during the 4th quarter. Van ECK Associates Corp now owns 659,534 shares of the oil and gas producer’s stock valued at $30,411,000 after purchasing an additional 101,762 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after purchasing an additional 3,454,741 shares during the last quarter. Capital Advisors Inc. OK grew its holdings in shares of EQT by 28.4% during the 4th quarter. Capital Advisors Inc. OK now owns 903,826 shares of the oil and gas producer’s stock valued at $40,792,000 after purchasing an additional 199,927 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of EQT during the 4th quarter valued at $55,000. Finally, Elevate Capital Advisors LLC bought a new position in shares of EQT during the 4th quarter valued at $1,744,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.63% of the company’s stock.

EQT Stock Performance

Shares of NYSE EQT opened at $52.36 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a 1 year low of $30.02 and a 1 year high of $54.85. The firm has a fifty day moving average price of $48.32 and a 200-day moving average price of $40.73. The stock has a market cap of $31.24 billion, a PE ratio of 62.33, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.20%. EQT’s dividend payout ratio is presently 75.00%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. StockNews.com raised shares of EQT to a “sell” rating in a report on Saturday, February 8th. Truist Financial raised their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Stephens raised their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on shares of EQT from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.22.

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.