Catalyst Funds Management Pty Ltd Invests $784,000 in EQT Co. (NYSE:EQT)

Catalyst Funds Management Pty Ltd bought a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, Holdings Channel.com reports. The fund bought 17,000 shares of the oil and gas producer’s stock, valued at approximately $784,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EQT. Assetmark Inc. increased its position in EQT by 8.9% during the third quarter. Assetmark Inc. now owns 27,899 shares of the oil and gas producer’s stock worth $1,022,000 after acquiring an additional 2,283 shares during the period. Atria Investments Inc bought a new position in EQT during the third quarter worth $201,000. Crossmark Global Holdings Inc. increased its position in EQT by 7.3% during the third quarter. Crossmark Global Holdings Inc. now owns 13,646 shares of the oil and gas producer’s stock worth $500,000 after acquiring an additional 926 shares during the period. Venturi Wealth Management LLC increased its position in EQT by 870.3% during the third quarter. Venturi Wealth Management LLC now owns 1,892 shares of the oil and gas producer’s stock worth $69,000 after acquiring an additional 1,697 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in EQT by 30.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,220,556 shares of the oil and gas producer’s stock worth $44,721,000 after acquiring an additional 282,423 shares during the period. Institutional investors own 90.81% of the company’s stock.

EQT Stock Up 3.8 %

Shares of NYSE EQT opened at $50.71 on Friday. The firm’s 50-day simple moving average is $50.82 and its 200 day simple moving average is $43.44. The company has a market cap of $30.30 billion, a price-to-earnings ratio of 126.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. 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 12-month low of $30.02 and a 12-month high of $56.66.

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

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.24%. EQT’s payout ratio is presently 157.50%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EQT shares. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their price target on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group boosted their price target on shares of EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Finally, Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, EQT presently has a consensus rating of “Hold” and an average target price of $52.56.

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.