Adage Capital Partners GP L.L.C. Acquires 77,600 Shares of EQT Co. (NYSE:EQT)

Adage Capital Partners GP L.L.C. increased its stake in EQT Co. (NYSE:EQT) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,714,535 shares of the oil and gas producer’s stock after acquiring an additional 77,600 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in EQT were worth $125,167,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 193 shares during the period. Stonebridge Financial Group LLC bought a new position in EQT during the fourth quarter valued at $55,000. 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 period. Finally, Larson Financial Group LLC lifted its holdings in shares of EQT by 1,343.8% in the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,290 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 1.7 %

Shares of NYSE EQT opened at $48.49 on Wednesday. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The business has a fifty day moving average price of $50.56 and a 200 day moving average price of $46.83. The stock has a market capitalization of $28.97 billion, a P/E ratio of 121.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Equities research analysts expect that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.30%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio is currently 157.50%.

Analyst Ratings Changes

EQT has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Piper Sandler dropped their price objective on EQT from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday. Truist Financial upped their price objective on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Morgan Stanley reiterated an “overweight” rating and set a $67.00 target price (up from $63.00) on shares of EQT in a research report on Wednesday, March 26th. Finally, StockNews.com cut shares of EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, EQT has an average rating of “Moderate Buy” and an average price target of $55.50.

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.