Allstate Corp Acquires New Position in EQT Co. (NYSE:EQT)

Allstate Corp purchased a new stake in shares of EQT Co. (NYSE:EQT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 16,879 shares of the oil and gas producer's stock, valued at approximately $778,000.

Other large investors have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 578 shares during the period. Financial Avengers Inc. raised its position 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. EverSource Wealth Advisors LLC lifted its holdings in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust grew its position in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after buying an additional 193 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of EQT during the fourth quarter valued at approximately $55,000. Institutional investors own 90.81% of the company's stock.

Wall Street Analyst Weigh In

EQT has been the topic of several recent analyst reports. Scotiabank cut shares of EQT from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. Sanford C. Bernstein raised shares of EQT from a "market perform" rating to an "outperform" rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. StockNews.com raised shares of EQT from a "sell" rating to a "hold" rating in a research note on Tuesday, March 25th. Wells Fargo & Company lifted their price objective on EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. increased their target price on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.28.

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EQT Stock Performance

EQT stock traded down $2.53 during trading on Thursday, reaching $52.09. The stock had a trading volume of 10,914,909 shares, compared to its average volume of 7,539,251. The stock's 50 day moving average is $51.43 and its two-hundred day moving average is $45.37. The firm has a market cap of $31.12 billion, a PE ratio of 130.22, a PEG ratio of 0.64 and a beta of 1.12. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

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

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Tuesday, February 18th. EQT's payout ratio is 157.50%.

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.