Bourgeon Capital Management LLC Invests $9.60 Million in EQT Co. (NYSE:EQT)

Bourgeon Capital Management LLC bought a new stake in shares of EQT Co. (NYSE:EQT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 208,251 shares of the oil and gas producer’s stock, valued at approximately $9,602,000. EQT comprises approximately 1.8% of Bourgeon Capital Management LLC’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors also recently bought and sold shares of EQT. HM Payson & Co. acquired a new position in shares of EQT during the third quarter valued at about $25,000. Truvestments Capital LLC purchased a new stake in EQT during the 3rd quarter worth approximately $30,000. Quarry LP increased 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 in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of EQT during the third quarter worth $36,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQT shares. StockNews.com raised EQT to a “sell” rating in a research report on Monday, December 30th. Citigroup raised their price objective on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price target on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised their target price on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.89.

EQT Trading Up 0.7 %

Shares of EQT stock opened at $53.33 on Wednesday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $53.98. The firm’s 50-day moving average price is $46.01 and its 200 day moving average price is $38.91. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $31.82 billion, a PE ratio of 63.48 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that EQT Co. will post 1.42 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.63% of the company’s stock.

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.