Catalyst Funds Management Pty Ltd Invests $784,000 in EQT Co. (NYSE:EQT)

Catalyst Funds Management Pty Ltd acquired a new stake in EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 17,000 shares of the oil and gas producer’s stock, valued at approximately $784,000.

Several other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of EQT by 4.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock worth $218,000 after purchasing an additional 223 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of EQT by 15.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after purchasing an additional 236 shares during the last quarter. Finally, Radnor Capital Management LLC grew its stake in shares of EQT by 0.4% in the 4th quarter. Radnor Capital Management LLC now owns 60,948 shares of the oil and gas producer’s stock worth $2,810,000 after purchasing an additional 237 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

NYSE EQT opened at $50.71 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $30.30 billion, a PE ratio of 126.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a 50 day moving average price of $50.82 and a two-hundred day moving average price of $43.44. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66.

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

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s payout ratio is 157.50%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQT. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Piper Sandler lifted their target price on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Wells Fargo & Company lifted their target price on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Citigroup downgraded shares of EQT from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Finally, UBS Group lifted their target price on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, EQT presently has an average rating of “Hold” and an average target price of $52.56.

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.