500,000 Shares in EQT Co. (NYSE:EQT) Purchased by Bornite Capital Management LP

Bornite Capital Management LP bought a new position in shares of EQT Co. (NYSE:EQT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 500,000 shares of the oil and gas producer's stock, valued at approximately $23,055,000. EQT accounts for approximately 3.1% of Bornite Capital Management LP's portfolio, making the stock its 13th largest holding. Bornite Capital Management LP owned approximately 0.08% of EQT at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew 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 acquiring an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after acquiring an additional 205 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of 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 worth $218,000 after acquiring an additional 223 shares during the last quarter. Huntington National Bank raised its holdings in shares of EQT by 7.4% during the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock worth $151,000 after acquiring an additional 224 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in EQT by 15.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer's stock valued at $79,000 after purchasing an additional 236 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

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EQT Stock Down 4.5 %

EQT traded down $2.13 on Wednesday, hitting $45.36. 5,455,221 shares of the company were exchanged, compared to its average volume of 7,694,066. The stock's fifty day moving average is $51.11 and its 200-day moving average is $45.86. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. 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 company has a market cap of $27.10 billion, a PE ratio of 113.89, a PEG ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.81 billion. Equities research analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Tuesday, February 18th. EQT's payout ratio is currently 157.50%.

Analyst Ratings Changes

Several brokerages recently weighed in on EQT. Citigroup raised their price objective on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 17th. UBS Group decreased their price target on EQT from $58.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday. Piper Sandler boosted their target price on shares of EQT from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. 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 report on Wednesday, January 15th. Finally, StockNews.com downgraded shares of EQT from a "hold" rating to a "sell" rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $55.72.

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.