Nkcfo LLC Makes New Investment in EQT Co. (NYSE:EQT)

Nkcfo LLC purchased a new stake in EQT Co. (NYSE:EQT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 16,000 shares of the oil and gas producer’s stock, valued at approximately $738,000.

Several other large investors also recently made changes to their positions in EQT. Wellington Management Group LLP lifted its stake in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in shares of EQT during the 3rd quarter valued at $562,494,000. State Street Corp lifted its position in shares of EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after acquiring an additional 3,454,741 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated 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 owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

EQT Price Performance

Shares of EQT opened at $53.49 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $31.91 billion, a PE ratio of 63.67, a PEG ratio of 0.62 and a beta of 1.08. The firm’s 50 day moving average price is $48.85 and its 200 day moving average price is $41.07. EQT Co. has a twelve month low of $30.02 and a twelve month high of $54.85.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, February 18th. EQT’s payout ratio is presently 75.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EQT. Bank of America began coverage on EQT in a research note on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Morgan Stanley boosted their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Piper Sandler raised their price objective on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group boosted their target price on shares of EQT from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $51.89.

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.