Parkside Investments LLC Increases Stake in EQT Co. (NYSE:EQT)

Parkside Investments LLC increased its stake in EQT Co. (NYSE:EQT) by 340.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,000 shares of the oil and gas producer’s stock after acquiring an additional 17,000 shares during the period. Parkside Investments LLC’s holdings in EQT were worth $1,014,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EQT. Sanctuary Advisors LLC grew its stake in shares of EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after buying an additional 32,484 shares during the period. Retirement Systems of Alabama boosted its holdings in EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after acquiring an additional 35,733 shares during the last quarter. FMR LLC grew its position in EQT by 2.5% during the third quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in EQT by 15.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock worth $1,914,000 after acquiring an additional 5,489 shares during the last quarter. Finally, Howard Financial Services LTD. purchased a new position in shares of EQT in the 4th quarter worth about $223,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.4 %

Shares of NYSE:EQT opened at $53.78 on Monday. The firm has a market cap of $32.09 billion, a PE ratio of 64.03 and a beta of 1.12. The company has a fifty day simple moving average of $46.84 and a 200 day simple moving average of $39.37. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12-month low of $30.02 and a 12-month high of $54.85.

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

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction 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 sale, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQT. Stephens increased their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, UBS Group upped their target price on EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

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.