Summit Financial LLC Makes New Investment in EQT Co. (NYSE:EQT)

Summit Financial LLC acquired a new position in EQT Co. (NYSE:EQT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,438 shares of the oil and gas producer's stock, valued at approximately $527,000.

A number of other institutional investors have also recently bought and sold shares of EQT. Wellington Management Group LLP increased its holdings in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer's stock worth $2,716,968,000 after buying an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of EQT by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock valued at $3,344,371,000 after purchasing an additional 358,649 shares in the last quarter. State Street Corp lifted its stake in shares of EQT by 24.5% in the 3rd 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 purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after buying an additional 1,774,696 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

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EQT Stock Performance

Shares of NYSE EQT traded up $1.26 during trading hours on Tuesday, reaching $48.57. The stock had a trading volume of 4,759,362 shares, compared to its average volume of 8,489,682. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. 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 business's fifty day moving average is $51.22 and its two-hundred day moving average is $45.77. The company has a market cap of $29.01 billion, a price-to-earnings ratio of 121.30, a PEG ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.81 billion. As a group, research analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 1.30%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT's payout ratio is 157.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on EQT shares. Mizuho raised their price objective on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Stephens raised shares of EQT from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $41.00 to $59.00 in a research report on Tuesday, March 18th. Scotiabank downgraded shares of EQT from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Jefferies Financial Group lifted their target price on shares of EQT from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Citigroup upped their price target on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, EQT presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.72.

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.