Axxcess Wealth Management LLC Purchases 434 Shares of EQT Corporation (NYSE:EQT)

Axxcess Wealth Management LLC boosted its position in EQT Corporation (NYSE:EQT) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,661 shares of the oil and gas producer’s stock after acquiring an additional 434 shares during the quarter. Axxcess Wealth Management LLC’s holdings in EQT were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EQT. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 worth $45,000 after buying an additional 205 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of EQT during the 4th quarter worth $55,000. Colonial Trust Co SC boosted its stake in EQT by 255.5% in the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 1,022 shares in the last quarter. Finally, Generali Investments Management Co LLC bought a new position in EQT in the fourth quarter valued at about $69,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Up 1.5%

EQT stock opened at $55.33 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $33.13 billion, a PE ratio of 97.07, a PEG ratio of 0.35 and a beta of 0.65. The firm’s fifty day moving average is $56.14 and its 200 day moving average is $52.50. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02.

EQT (NYSE:EQT) last announced 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 firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. As a group, sell-side analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s dividend payout ratio is currently 110.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. UBS Group raised shares of EQT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $54.00 to $64.00 in a research note on Monday, May 5th. Barclays started coverage on EQT in a research report on Monday, July 7th. They set an “overweight” rating and a $65.00 price objective on the stock. Scotiabank upped their price target on shares of EQT from $62.00 to $66.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Royal Bank Of Canada increased their price target on EQT from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.15.

EQT 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.