Nkcfo LLC Buys New Shares in EQT Co. (NYSE:EQT)

Nkcfo LLC bought a new stake in shares of EQT Co. (NYSE:EQT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,000 shares of the oil and gas producer's stock, valued at approximately $738,000.

Several other large investors have also modified their holdings of EQT. Wellington Management Group LLP boosted its position in shares of 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 valued at $2,716,968,000 after buying an additional 20,700,921 shares during the period. Modera Wealth Management LLC purchased a new position in shares of EQT during the third quarter valued at approximately $562,494,000. State Street Corp boosted 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 valued at $1,359,183,000 after buying an additional 7,290,822 shares during the period. Geode Capital Management LLC boosted its position in shares of EQT by 34.4% during the third 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 buying an additional 3,582,418 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of EQT by 386.9% during the fourth 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 buying an additional 3,454,741 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Up 1.0 %

Shares of EQT stock traded up $0.56 during trading hours on Wednesday, reaching $54.34. 12,168,930 shares of the company's stock were exchanged, compared to its average volume of 8,165,913. The stock's 50 day moving average is $49.26 and its 200-day moving average is $41.41. The company has a market cap of $32.42 billion, a price-to-earnings ratio of 64.69, a P/E/G ratio of 0.65 and a beta of 1.08. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. Analysts predict that EQT Co. will post 1.38 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Tuesday, February 18th. EQT's payout ratio is 75.00%.

Insider Activity at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares of the company's stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EQT has been the subject of several recent analyst reports. Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They set a "buy" rating and a $50.00 target price for the company. Morgan Stanley boosted their price target on EQT from $45.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Stephens boosted their price target on EQT from $37.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on EQT from $59.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Sanford C. Bernstein upgraded EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price target for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.89.

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.