Seldon Capital LP Makes New Investment in EQT Co. (NYSE:EQT)

Seldon Capital LP purchased a new position in EQT Co. (NYSE:EQT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 115,630 shares of the oil and gas producer's stock, valued at approximately $5,332,000. EQT makes up 2.2% of Seldon Capital LP's investment portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQT. MML Investors Services LLC raised its position in EQT by 29.3% in the 3rd quarter. MML Investors Services LLC now owns 17,895 shares of the oil and gas producer's stock valued at $656,000 after purchasing an additional 4,057 shares during the last quarter. Bard Financial Services Inc. acquired a new stake in shares of EQT in the third quarter valued at $878,000. Wilmington Savings Fund Society FSB bought a new position in shares of EQT in the third quarter valued at about $165,000. Blankinship & Foster LLC acquired a new position in EQT during the 3rd quarter worth about $4,051,000. Finally, Tidal Investments LLC grew its holdings in EQT by 55.8% during the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer's stock worth $2,228,000 after acquiring an additional 21,789 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

EQT Stock Up 0.2 %

Shares of EQT traded up $0.09 during midday trading on Thursday, hitting $48.84. The stock had a trading volume of 10,304,417 shares, compared to its average volume of 7,814,882. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 122.10, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a 50 day simple moving average of $50.47 and a two-hundred day simple moving average of $46.84. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. On average, analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.29%. EQT's payout ratio is currently 157.50%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQT. Mizuho boosted their target price on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Piper Sandler lowered their price objective on EQT from $36.00 to $35.00 and set a "neutral" rating for the company in a research report on Tuesday. The Goldman Sachs Group restated a "reduce" rating on shares of EQT in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, March 19th. Finally, TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.39.

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.