Washburn Capital Management Acquires Shares in EQT Co.

Washburn Capital Management Inc. has taken a significant step in its investment portfolio by acquiring a new stake in EQT Co. (NYSE:EQT) during the fourth quarter. This information comes from their recent 13F filing with the Securities and Exchange Commission (SEC). Specifically, they have purchased 5,925 shares of the oil and gas producer, with the total value of this investment amounting to approximately $273,000.

Changes in Institutional Holdings

In addition to Washburn Capital's acquisition, several other institutional investors and hedge funds have also adjusted their positions in EQT recently. For instance, Truist Financial Corp reported an 18.0% increase in its holdings during the second quarter, bringing their total to 21,399 shares valued at $791,000 after acquiring an extra 3,261 shares. Similarly, Cetera Investment Advisers increased their stake in EQT by 5.8%, now owning 64,870 shares worth $2,399,000 following the purchase of an additional 3,536 shares.

Czech National Bank also raised its holdings by an impressive 43.8% in the third quarter, owning 121,010 shares valued at $4,434,000 after acquiring 36,861 additional shares. CWM LLC made a 16.9% increase to its position, bringing their total to 13,218 shares worth $484,000 after buying an extra 1,910 shares. Furthermore, Hexagon Capital Partners LLC made headlines by increasing its stake by a staggering 18,080.0%, now holding 909 shares valued at $33,000 after adding 904 more shares. In total, hedge funds and institutional investors own approximately 90.81% of EQT stock.

Insider Trading Activities

Recent insider trading activity reveals that Director Thomas F. Karam sold 30,154 shares on December 3rd, valued at roughly $1,351,803.82, with an average sale price of $44.83 per share. Post-transaction, Karam holds 201,608 shares, worth approximately $9,038,086.64, reflecting a decrease of about 13.01% in ownership. This sale was documented in an SEC filing.

Price Trends of EQT Stock

On the trading floor, EQT Co. opened at $51.11. The company's 50-day simple moving average stands at $47.96, while the 200-day moving average is $40.38. Over the last year, EQT has seen a low of $30.02 and a high of $54.85. With a market capitalization of $30.50 billion, the stock holds a price-to-earnings (P/E) ratio of 60.84 and a P/E growth (P/E/G) ratio of 0.62. Its beta is noted at 1.08, indicating a tendency to follow the market's volatility. In terms of liquidity, EQT has a quick ratio of 0.51 and a current ratio of 0.51, with a manageable debt-to-equity ratio of 0.65.

Dividend Announcement

The company has also announced a quarterly dividend that is set to be distributed on Monday, March 3rd. Shareholders recorded as of Tuesday, February 18th, will receive a cash dividend of $0.1575. This dividend rates an annual yield of 1.23%, and the ex-dividend date is also noted for February 18th. EQT's dividend payout ratio presently stands at 75.00%, indicating a healthy return to its shareholders.

Analyst Ratings

Regarding stock performance, several analysts have recently updated their ratings for EQT. Morgan Stanley raised their target price from $45.00 to $56.00, giving the stock an "overweight" rating. Truist Financial followed suit, increasing their target price from $41.00 to $56.00 while issuing a "hold" rating. Citigroup adjusted its price target from $44.00 to $51.00, subsequently giving a "buy" rating to the stock. Mizuho upgraded EQT from a "neutral" to an "outperform" rating, raising the target from $48.00 to $57.00. At present, one analyst has assigned a sell rating, seven analysts recommend holding the stock, and eleven analysts encourage buying into EQT. The consensus rating is classified as a "Moderate Buy" with an average price target of $49.94, according to MarketBeat data.

Company Overview

EQT Corporation operates primarily as a natural gas production company in the United States, specializing in selling natural gas and natural gas liquids to various customers including marketers, utilities, and industrial entities, facilitated by its established pipeline networks within the Appalachian Basin. Their services extend to marketing and management of contractual pipeline capacities.

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