Bedell Frazier Investment Counselling LLC Invests $1.93 Million in EQT Co. (NYSE:EQT)

Bedell Frazier Investment Counselling LLC purchased a new stake in EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,907 shares of the oil and gas producer’s stock, valued at approximately $1,932,000.

A number of other large investors have also recently added to or reduced their stakes in EQT. Wellington Management Group LLP raised its stake in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. Vanguard Group Inc. grew its position in shares of EQT by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares in the last quarter. State Street Corp increased its holdings in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC raised its position in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in EQT by 14.7% during the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock worth $637,698,000 after purchasing an additional 1,774,696 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of NYSE EQT opened at $53.07 on Monday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $51.38 and a two-hundred day moving average of $45.02. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 132.68, a PEG ratio of 0.64 and a beta of 1.12.

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

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, February 18th. EQT’s payout ratio is 157.50%.

Analyst Ratings Changes

A number of brokerages have issued reports on EQT. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $48.00 to $57.00 in a report on Monday, December 16th. Wells Fargo & Company boosted their price objective on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Piper Sandler increased their target price on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Morgan Stanley reissued an “overweight” rating and set a $67.00 price target (up previously from $63.00) on shares of EQT in a report on Wednesday. Finally, Jefferies Financial Group increased their price objective on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.11.

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.