Union Bancaire Privee UBP SA Takes Position in EQT Co. (NYSE:EQT)

Union Bancaire Privee UBP SA bought a new stake in EQT Co. (NYSE:EQT) in the fourth quarter, Holdings Channel reports. The institutional investor bought 66,310 shares of the oil and gas producer’s stock, valued at approximately $3,022,000.

A number of other institutional investors also recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in shares of EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 298 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its position in EQT by 31.9% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 67,004 shares of the oil and gas producer’s stock worth $3,090,000 after purchasing an additional 16,204 shares during the last quarter. ING Groep NV bought a new position in EQT in the 4th quarter worth approximately $9,149,000. Ieq Capital LLC bought a new position in EQT in the 4th quarter worth approximately $227,000. Finally, Abacus Planning Group Inc. bought a new position in EQT in the 4th quarter worth approximately $207,000. Institutional investors own 90.81% of the company’s stock.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EQT. Morgan Stanley upped their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Truist Financial upped their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 target price on shares of EQT in a research report on Monday, January 6th. StockNews.com upgraded shares of EQT to a “sell” rating in a research report on Saturday, February 8th. Finally, Piper Sandler upped their target price on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.17.

EQT Stock Down 4.6 %

EQT stock opened at $50.15 on Friday. The stock has a market cap of $29.96 billion, a P/E ratio of 125.37, a P/E/G ratio of 0.64 and a beta of 1.08. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The company’s 50-day moving average price is $49.67 and its two-hundred day moving average price is $41.79.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.26%. EQT’s payout ratio is presently 157.50%.

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.