PNC Financial Services Group Inc. Boosts Stock Position in EQT Co. (NYSE:EQT)

PNC Financial Services Group Inc. boosted its holdings in shares of EQT Co. (NYSE:EQT) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 141,183 shares of the oil and gas producer’s stock after purchasing an additional 13,523 shares during the quarter. PNC Financial Services Group Inc.’s holdings in EQT were worth $6,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQT. Truvestments Capital LLC bought a new stake in EQT during the 3rd quarter valued at approximately $30,000. Quarry LP raised its stake in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. Brown Brothers Harriman & Co. bought a new stake in EQT during the 3rd quarter valued at approximately $36,000. Financial Avengers Inc. raised its stake in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 504 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares during the period. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on EQT shares. Wells Fargo & Company lifted their target price on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Citigroup downgraded EQT from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, Mizuho raised EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Hold” and an average target price of $52.44.

EQT Price Performance

EQT opened at $49.03 on Thursday. The business has a fifty day moving average of $50.71 and a 200 day moving average of $43.28. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. 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 stock has a market cap of $29.29 billion, a P/E ratio of 122.57, a PEG ratio of 0.64 and a beta of 1.12.

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

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio is 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.