Connective Portfolio Management LLC Purchases New Position in EQT Co. (NYSE:EQT)

Connective Portfolio Management LLC purchased a new position in EQT Co. (NYSE:EQT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,000 shares of the oil and gas producer’s stock, valued at approximately $1,752,000. EQT accounts for about 2.6% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 12th biggest holding.

A number of other hedge funds also recently bought and sold shares of EQT. DekaBank Deutsche Girozentrale grew its holdings in shares of EQT by 11.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 26,653 shares of the oil and gas producer’s stock worth $989,000 after buying an additional 2,710 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new stake in EQT in the second quarter valued at approximately $234,000. Oppenheimer Asset Management Inc. lifted its stake in EQT by 10.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 14,730 shares of the oil and gas producer’s stock worth $545,000 after acquiring an additional 1,408 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of EQT by 2.9% during the second quarter. Envestnet Asset Management Inc. now owns 230,697 shares of the oil and gas producer’s stock worth $8,531,000 after purchasing an additional 6,427 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in EQT in the 2nd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. Citigroup lifted their target price on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Jefferies Financial Group boosted their price target on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Truist Financial raised their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.94.

EQT Stock Up 3.3 %

EQT stock opened at $52.38 on Thursday. The stock has a market capitalization of $31.25 billion, a price-to-earnings ratio of 62.36 and a beta of 1.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average of $45.09 and a two-hundred day moving average of $38.45. EQT Co. has a twelve month low of $30.02 and a twelve month high of $53.00.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $0.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that EQT Co. will post 1.37 earnings per share for the current year.

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.