Drummond Knight Asset Management Pty Ltd Takes Position in EQT Co. (NYSE:EQT)

Drummond Knight Asset Management Pty Ltd bought a new stake in EQT Co. (NYSE:EQT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 223,133 shares of the oil and gas producer’s stock, valued at approximately $10,289,000. EQT accounts for about 7.5% of Drummond Knight Asset Management Pty Ltd’s portfolio, making the stock its 6th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 193 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of EQT in the 4th quarter worth about $55,000. First Horizon Advisors Inc. increased its position in shares of EQT by 33.1% during the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 298 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in EQT by 1,343.8% during the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 0.2 %

Shares of NYSE:EQT opened at $53.42 on Wednesday. The company has a 50 day moving average price of $50.50 and a two-hundred day moving average price of $47.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $31.98 billion, a PE ratio of 133.54, a PEG ratio of 0.64 and a beta of 0.59. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The business 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%. Analysts forecast that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 110.53%.

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of research analyst reports. Citigroup increased their price target on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. StockNews.com downgraded shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Stephens decreased their price target on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Finally, Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.94.

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.