Axxcess Wealth Management LLC Invests $287,000 in EQT Co. (NYSE:EQT)

Axxcess Wealth Management LLC bought a new position in shares of EQT Co. (NYSE:EQT - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,227 shares of the oil and gas producer's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EQT. Wellington Management Group LLP lifted its holdings in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer's stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares in the last quarter. State Street Corp raised its position in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer's stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted its holdings in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer's stock valued at $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of EQT by 386.9% in 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 period. Finally, Holocene Advisors LP bought a new stake in EQT during the 3rd quarter worth approximately $97,979,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Up 0.5 %

EQT traded up $0.25 during trading on Tuesday, reaching $54.25. 4,417,995 shares of the stock were exchanged, compared to its average volume of 7,297,743. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The stock's 50 day moving average price is $51.40 and its two-hundred day moving average price is $44.58. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The stock has a market cap of $32.41 billion, a P/E ratio of 135.63, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

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EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. Equities analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.16%. EQT's dividend payout ratio is 157.50%.

Analysts Set New Price Targets

A number of research analysts have weighed in on EQT shares. Sanford C. Bernstein raised shares of EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price target on the stock in a research note on Wednesday, January 15th. Scotiabank cut shares of EQT from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $55.00 to $54.00 in a research report on Friday, January 17th. UBS Group upped their target price on shares of EQT from $54.00 to $58.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Morgan Stanley lifted their price target on EQT from $45.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, November 25th. Finally, Citigroup upped their price objective on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.50.

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.