PNC Financial Services Group Inc. Buys 13,523 Shares of EQT Co. (NYSE:EQT)

PNC Financial Services Group Inc. lifted its stake in EQT Co. (NYSE:EQT) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,183 shares of the oil and gas producer’s stock after acquiring an additional 13,523 shares during the period. PNC Financial Services Group Inc.’s holdings in EQT were worth $6,510,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of EQT in the 3rd quarter worth $30,000. Quarry LP increased its position in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in EQT during the 3rd quarter valued at about $36,000. Financial Avengers Inc. increased its position in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 504 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in 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. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

Shares of EQT stock opened at $49.03 on Thursday. The company has a market capitalization of $29.29 billion, a P/E ratio of 122.57, a P/E/G ratio of 0.64 and a beta of 1.12. The business’s 50 day moving average is $50.71 and its two-hundred day moving average is $43.28. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Analysts expect that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.29%. EQT’s payout ratio is currently 157.50%.

Analysts Set New Price Targets

Several research analysts recently issued reports on EQT shares. Sanford C. Bernstein raised 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. Jefferies Financial Group upped their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. UBS Group upped their target price on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Wells Fargo & Company upped their target price on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Truist Financial increased their price objective on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.44.

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.