Connective Portfolio Management LLC Buys Shares of 38,000 EQT Co. (NYSE:EQT)

Connective Portfolio Management LLC purchased a new stake in EQT Co. (NYSE:EQT) during the 4th quarter, Holdings Channel reports. The firm purchased 38,000 shares of the oil and gas producer’s stock, valued at approximately $1,752,000. EQT accounts for about 2.6% of Connective Portfolio Management LLC’s holdings, making the stock its 12th largest position.

A number of other hedge funds have also modified their holdings of EQT. Radnor Capital Management LLC lifted its holdings in EQT by 0.4% in the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock valued at $2,810,000 after purchasing an additional 237 shares in the last quarter. Davis Investment Partners LLC boosted its position in EQT by 1.0% during the third quarter. Davis Investment Partners LLC now owns 30,908 shares of the oil and gas producer’s stock worth $1,137,000 after acquiring an additional 317 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in EQT by 7.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,121 shares of the oil and gas producer’s stock worth $224,000 after acquiring an additional 421 shares during the period. Financial Avengers Inc. raised its holdings in EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 578 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EQT has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. BMO Capital Markets lifted their price target on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Morgan Stanley increased their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Monday, January 6th. Finally, Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.63% of the stock is owned by insiders.

EQT Stock Up 3.3 %

NYSE EQT opened at $52.38 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $53.00. The business has a 50 day moving average price of $45.09 and a two-hundred day moving average price of $38.45. The stock has a market cap of $31.25 billion, a PE ratio of 62.36 and a beta of 1.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts predict that EQT Co. will post 1.37 EPS for the current fiscal year.

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.