EQT Co. (NYSE:EQT) is Paloma Partners Management Co’s 8th Largest Position

Paloma Partners Management Co decreased its holdings in shares of EQT Co. (NYSE:EQT) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 970,878 shares of the oil and gas producer’s stock after selling 96,000 shares during the quarter. EQT accounts for about 2.0% of Paloma Partners Management Co’s investment portfolio, making the stock its 8th biggest position. Paloma Partners Management Co’s holdings in EQT were worth $44,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQT. Bard Financial Services Inc. bought a new position in EQT in the 3rd quarter worth about $878,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of EQT in the third quarter valued at approximately $165,000. Blankinship & Foster LLC bought a new position in EQT in the third quarter worth approximately $4,051,000. Tidal Investments LLC raised its position 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 valued at $2,228,000 after purchasing an additional 21,789 shares in the last quarter. Finally, Synovus Financial Corp purchased a new stake in shares of EQT in the 3rd quarter worth $1,069,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of EQT stock opened at $51.14 on Tuesday. The firm has a market capitalization of $30.61 billion, a P/E ratio of 127.85, a PEG ratio of 0.64 and a beta of 1.35. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $50.24 and a 200 day moving average price of $47.26. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Sell-side analysts expect 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 given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio is presently 110.53%.

Wall Street Analyst Weigh In

EQT has been the topic of several research reports. Stephens cut their price target on EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley boosted their price target on shares of EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Piper Sandler dropped their price objective on shares of EQT from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Finally, TD Cowen upgraded EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.39.

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.