Schonfeld Strategic Advisors LLC Boosts Stake in EQT Co. (NYSE:EQT)

Schonfeld Strategic Advisors LLC increased its stake in EQT Co. (NYSE:EQT) by 594.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,985 shares of the oil and gas producer’s stock after acquiring an additional 110,415 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in EQT were worth $5,947,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EQT. Invesco Ltd. boosted its holdings in shares of EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after purchasing an additional 4,162,065 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in EQT by 386.9% in the fourth 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 buying an additional 3,454,741 shares in the last quarter. Slate Path Capital LP bought a new position in EQT during the fourth quarter valued at approximately $123,575,000. Raymond James Financial Inc. purchased a new position in shares of EQT during the fourth quarter worth approximately $113,924,000. Finally, Capital International Investors lifted its holdings in shares of EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after acquiring an additional 2,433,632 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT opened at $50.34 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The company has a market cap of $30.14 billion, a price-to-earnings ratio of 125.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The stock has a fifty day simple moving average of $50.21 and a two-hundred day simple moving average of $47.39. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66.

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

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.25%. EQT’s payout ratio is currently 110.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research report on Wednesday, January 15th. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $55.00 to $54.00 in a report on Friday, January 17th. Morgan Stanley lifted their price target on EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group dropped their price objective on EQT from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.39.

About EQT

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.