2,470,700 Shares in EQT Co. (NYSE:EQT) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in EQT Co. (NYSE:EQT) during the 4th quarter, Holdings Channel.com reports. The firm purchased 2,470,700 shares of the oil and gas producer’s stock, valued at approximately $113,924,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQT. Truvestments Capital LLC purchased a new stake in shares of EQT in the 3rd quarter worth approximately $30,000. Quarry LP boosted 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 last quarter. Brown Brothers Harriman & Co. purchased a new stake in EQT during the 3rd quarter valued at $36,000. Financial Avengers Inc. boosted its stake in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $46.96 on Friday. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The stock’s fifty day moving average is $50.58 and its 200 day moving average is $42.96. The stock has a market cap of $28.06 billion, a P/E ratio of 117.40, a P/E/G ratio of 0.64 and a beta of 1.12. 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 (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.81 billion. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.34%. EQT’s dividend payout ratio is presently 157.50%.

Analyst Ratings Changes

EQT has been the topic of several recent analyst reports. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and increased their target price for the company from $48.00 to $57.00 in a research note on Monday, December 16th. Morgan Stanley increased their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Citigroup increased their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Finally, Truist Financial raised their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $52.44.

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.