Telemark Asset Management LLC Invests $13.83 Million in EQT Co. (NYSE:EQT)

Telemark Asset Management LLC acquired a new stake in shares of EQT Co. (NYSE:EQT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 300,000 shares of the oil and gas producer's stock, valued at approximately $13,833,000. EQT comprises 1.4% of Telemark Asset Management LLC's holdings, making the stock its 24th biggest holding. Telemark Asset Management LLC owned about 0.05% of EQT at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EQT. Truvestments Capital LLC bought a new position in shares of EQT in the third quarter worth about $30,000. Quarry LP raised its holdings in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after buying an additional 578 shares during the period. Brown Brothers Harriman & Co. bought a new stake in EQT during the 3rd quarter valued at $36,000. Financial Avengers Inc. boosted its position in shares of EQT by 100.8% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of EQT by 26.6% in the 4th 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. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Price Performance

Shares of NYSE:EQT traded down $0.19 during midday trading on Thursday, reaching $48.76. 4,968,886 shares of the company's stock were exchanged, compared to its average volume of 8,678,676. The company's 50 day simple moving average is $50.74 and its two-hundred day simple moving average is $43.32. The firm has a market capitalization of $29.13 billion, a PE ratio of 121.90, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. EQT Co. has a 12 month low of $30.02 and a 12 month 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 announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Equities research analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT's payout ratio is presently 157.50%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Scotiabank lowered EQT from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Mizuho raised EQT from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Citigroup lowered EQT from a "buy" rating to a "reduce" rating in a research report on Wednesday, March 5th. Jefferies Financial Group boosted their target price on shares of EQT from $45.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group reiterated a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, EQT currently has an average rating of "Hold" and an average target price of $52.56.

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.