Abacus Planning Group Inc. Purchases New Stake in EQT Co. (NYSE:EQT)

Abacus Planning Group Inc. acquired a new position in shares of EQT Co. (NYSE:EQT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,480 shares of the oil and gas producer’s stock, valued at approximately $207,000.

Several other large investors also recently made changes to their positions in the business. Creative Planning increased its holdings in EQT by 92.6% in the 3rd quarter. Creative Planning now owns 99,480 shares of the oil and gas producer’s stock valued at $3,645,000 after purchasing an additional 47,825 shares in the last quarter. Blue Trust Inc. boosted its position in shares of EQT by 168.9% in the third quarter. Blue Trust Inc. now owns 2,684 shares of the oil and gas producer’s stock worth $99,000 after buying an additional 1,686 shares during the period. Raymond James & Associates boosted its position in shares of EQT by 30.7% in the third quarter. Raymond James & Associates now owns 966,434 shares of the oil and gas producer’s stock worth $35,410,000 after buying an additional 226,845 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of EQT by 1,138.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 892,919 shares of the oil and gas producer’s stock valued at $32,717,000 after buying an additional 820,794 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of EQT by 87.2% during the 3rd quarter. Signaturefd LLC now owns 9,012 shares of the oil and gas producer’s stock valued at $330,000 after buying an additional 4,198 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of EQT from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Stephens raised their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. StockNews.com raised shares of EQT to a “sell” rating in a research report on Saturday, February 8th. Finally, Truist Financial lifted their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.89.

EQT Trading Up 1.0 %

NYSE EQT opened at $54.34 on Thursday. The firm has a market capitalization of $32.42 billion, a PE ratio of 64.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.08. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a 50-day simple moving average of $49.26 and a 200-day simple moving average of $41.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. On average, equities analysts forecast that EQT Co. will post 1.38 earnings per share for the current year.

EQT Announces Dividend

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

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.63% of the company’s stock.

EQT Company 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.