Ninepoint Partners LP Makes New $23.06 Million Investment in EQT Co. (NYSE:EQT)

Ninepoint Partners LP purchased a new position in shares of EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 500,000 shares of the oil and gas producer's stock, valued at approximately $23,055,000. EQT accounts for 3.4% of Ninepoint Partners LP's investment portfolio, making the stock its 7th biggest position. Ninepoint Partners LP owned approximately 0.08% of EQT as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of EQT during the 3rd quarter worth about $30,000. Quarry LP grew its position in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 578 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of EQT during the third quarter worth about $36,000. Financial Avengers Inc. increased 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 worth $37,000 after purchasing an additional 504 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after acquiring an additional 205 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.3 %

Shares of EQT stock traded up $0.14 during mid-day trading on Thursday, reaching $53.74. 9,073,130 shares of the company were exchanged, compared to its average volume of 7,272,927. The business's 50 day simple moving average is $51.07 and its 200 day simple moving average is $43.92. The company has a market capitalization of $32.11 billion, a P/E ratio of 134.36, a P/E/G ratio of 0.64 and a beta of 1.12. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week 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.

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EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.81 billion. Research analysts predict that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.17%. EQT's dividend payout ratio (DPR) is 157.50%.

Analyst Ratings Changes

A number of brokerages have issued reports on EQT. Truist Financial increased their target price on shares of EQT from $41.00 to $56.00 and gave the company a "hold" rating in a report on Monday, January 13th. StockNews.com upgraded shares of EQT from a "sell" rating to a "hold" rating in a report on Friday, March 14th. Scotiabank downgraded EQT from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Mizuho raised shares of EQT from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Finally, UBS Group raised their price objective on EQT from $54.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.50.

EQT Company 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.