Elevate Capital Advisors LLC Makes New Investment in EQT Co. (NYSE:EQT)

Elevate Capital Advisors LLC bought a new stake in EQT Co. (NYSE:EQT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,830 shares of the oil and gas producer’s stock, valued at approximately $1,744,000. EQT accounts for 1.5% of Elevate Capital Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of EQT. Truist Financial Corp boosted its holdings in EQT by 18.0% in the 2nd quarter. Truist Financial Corp now owns 21,399 shares of the oil and gas producer’s stock worth $791,000 after buying an additional 3,261 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of EQT by 5.8% in the second quarter. Cetera Investment Advisers now owns 64,870 shares of the oil and gas producer’s stock worth $2,399,000 after acquiring an additional 3,536 shares during the last quarter. CWM LLC increased its position in shares of EQT by 16.9% during the third quarter. CWM LLC now owns 13,218 shares of the oil and gas producer’s stock worth $484,000 after purchasing an additional 1,910 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in EQT by 693.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,204 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new position in EQT in the 3rd quarter valued at $239,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 0.6 %

EQT stock opened at $51.11 on Monday. 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 50 day moving average price of $47.96 and a 200 day moving average price of $40.42. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The company has a market capitalization of $30.50 billion, a PE ratio of 60.84, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.23%. EQT’s dividend payout ratio is presently 75.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EQT. JPMorgan Chase & Co. increased their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Stephens increased their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. Finally, StockNews.com raised EQT to a “sell” rating in a research note on Saturday. One research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.94.

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 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 in the company, valued at $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 owned by corporate insiders.

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.