Golden State Wealth Management LLC Takes Position in EQT Corporation (NYSE:EQT)

Golden State Wealth Management LLC bought a new stake in shares of EQT Corporation (NYSE:EQT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,548 shares of the oil and gas producer’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EQT. Parkside Financial Bank & Trust lifted its stake in shares of EQT by 22.7% during 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 buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. Generali Investments Management Co LLC lifted its stake in shares of EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock valued at $91,000 after buying an additional 211 shares in the last quarter. Huntington National Bank lifted its stake in shares of EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock valued at $151,000 after buying an additional 224 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of EQT by 16.1% during the 1st quarter. Blue Trust Inc. now owns 1,806 shares of the oil and gas producer’s stock valued at $96,000 after buying an additional 250 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

EQT stock opened at $58.32 on Friday. The firm’s fifty day moving average price is $54.97 and its 200-day moving average price is $51.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The stock has a market cap of $34.91 billion, a P/E ratio of 102.32, a price-to-earnings-growth ratio of 0.35 and a beta of 0.65. EQT Corporation has a fifty-two week low of $30.02 and a fifty-two week high of $61.02.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. On average, equities research analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is currently 110.53%.

Analysts Set New Price Targets

A number of brokerages recently commented on EQT. Wells Fargo & Company upped their price target on shares of EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, June 16th. JPMorgan Chase & Co. upped their price target on shares of EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. Citigroup upped their price target on shares of EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Finally, Morgan Stanley raised their price target on shares of EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.