Washburn Capital Management Inc. Acquires New Position in EQT Co. (NYSE:EQT)

Washburn Capital Management Inc. purchased a new stake in EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,925 shares of the oil and gas producer's stock, valued at approximately $273,000.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its position in EQT by 4.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer's stock valued at $218,000 after buying an additional 223 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of EQT by 15.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer's stock worth $79,000 after acquiring an additional 236 shares during the last quarter. Radnor Capital Management LLC boosted its position in shares of EQT by 0.4% during the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer's stock worth $2,810,000 after purchasing an additional 237 shares during the period. Waldron Private Wealth LLC increased its holdings in EQT by 0.7% in the 4th quarter. Waldron Private Wealth LLC now owns 37,323 shares of the oil and gas producer's stock valued at $1,721,000 after purchasing an additional 251 shares during the last quarter. Finally, Greenleaf Trust raised its position in EQT by 1.8% in the fourth quarter. Greenleaf Trust now owns 19,477 shares of the oil and gas producer's stock valued at $898,000 after purchasing an additional 349 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

EQT traded down $1.40 on Wednesday, hitting $52.36. 7,829,741 shares of the company's stock were exchanged, compared to its average volume of 8,116,036. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average of $48.32 and a two-hundred day moving average of $40.73. EQT Co. has a twelve month low of $30.02 and a twelve month high of $54.85. The firm has a market cap of $31.24 billion, a PE ratio of 62.33, a P/E/G ratio of 0.62 and a beta of 1.08.

EQT Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EQT shares. Stephens lifted their price objective on EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Truist Financial lifted their target price on EQT from $41.00 to $56.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Piper Sandler boosted their price target on shares of EQT from $34.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of EQT from $52.00 to $53.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Finally, Mizuho raised shares of 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.22.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now directly owns 201,608 shares of the company's stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.63% of the company's stock.

EQT 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.