Cannell & Spears LLC Has $62.21 Million Stock Holdings in EQT Co. (NYSE:EQT)

Cannell & Spears LLC boosted its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 135.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,349,242 shares of the oil and gas producer's stock after acquiring an additional 775,722 shares during the quarter. EQT accounts for 1.3% of Cannell & Spears LLC's portfolio, making the stock its 18th largest position. Cannell & Spears LLC owned about 0.23% of EQT worth $62,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 578 shares in the last quarter. Financial Avengers Inc. raised its position in EQT by 100.8% in 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 boosted its stake in EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 193 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of EQT in the fourth quarter valued at $55,000. 90.81% of the stock is owned by institutional investors.

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EQT Trading Up 1.4 %

NYSE EQT traded up $0.78 during trading on Wednesday, reaching $54.66. 7,590,876 shares of the stock traded hands, compared to its average volume of 7,513,953. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 136.65, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average price is $51.40 and its 200 day moving average price is $45.31.

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, 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 business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.81 billion. Analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT's payout ratio is 157.50%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EQT shares. Citigroup upped their price target on shares of EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. upped their target price on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. Royal Bank of Canada reissued a "sector perform" rating and issued a $49.00 price target on shares of EQT in a report on Monday, January 6th. Sanford C. Bernstein raised EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. Finally, Scotiabank cut EQT from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $55.00 to $54.00 in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $55.28.

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.