Washburn Capital Management Acquires Shares in EQT Co.

Washburn Capital Management Inc. has recently made an investment in EQT Co. (NYSE:EQT) by acquiring 5,925 shares of the company during the fourth quarter. This information comes from their latest 13F filing with the Securities and Exchange Commission. The shares purchased are valued at approximately $273,000. This move indicates a growing interest in the oil and gas sector among institutional investors.

Investor Activity in EQT Stock

In addition to Washburn Capital Management’s recent acquisition, several other institutional investors and hedge funds have adjusted their stakes in EQT. For instance, Truist Financial Corp increased its investments in EQT by 18.0% during the second quarter. This means Truist now holds 21,399 shares, worth about $791,000, after acquiring an additional 3,261 shares.

Cetera Investment Advisers also raised its position, increasing its holdings by 5.8% and now owning 64,870 shares valued at $2,399,000 after acquiring 3,536 shares in the previous quarter. Notably, Czech National Bank made a significant boost of 43.8% during the third quarter, bringing its total to 121,010 shares valued at $4,434,000 after a purchase of 36,861 shares.

Furthermore, CWM LLC reported a growth of 16.9% in its position, adding 1,910 shares to reach a total of 13,218 shares worth $484,000. Hexagon Capital Partners LLC saw an impressive increase of 18,080.0%. They now have 909 shares valued at $33,000, having acquired an additional 904 shares in the last quarter. Overall, institutional investors own about 90.81% of EQT stock.

Insider Transactions

In related news, Thomas F. Karam, a director at EQT, sold 30,154 shares of the company on December 3rd at an average price of $44.83. This sale resulted in a transaction totaling approximately $1,351,803.82. After this sale, Karam now directly owns 201,608 shares valued at about $9,038,086.64. This sale represents a decrease of 13.01% in their holdings. It’s also worth noting that corporate insiders currently own 0.63% of the stock.

EQT's Market Performance

The stock's market performance shows that EQT opened at $51.11 recently. The 50-day simple moving average stands at $47.96, while the 200-day simple moving average is at $40.38. EQT has recorded a 52-week low of $30.02 and a high of $54.85. The company boasts a market capitalization of $30.50 billion, a price-to-earnings ratio (P/E) of 60.84, and a P/E to growth (P/G) ratio of 0.62, indicating potential growth relative to its earnings.

Dividend Announcement

EQT also recently announced a quarterly dividend, which is set to be paid on March 3rd. Shareholders who are on record by February 18th will receive a dividend of $0.1575 per share, equating to an annualized dividend of $0.63 and a dividend yield of 1.23%. The ex-dividend date is also February 18th. EQT has a dividend payout ratio (DPR) of 75.00%.

Analyst Ratings and Insights

Various brokerages have revisited their ratings for EQT recently. Morgan Stanley raised its target price on EQT shares from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note. Truist Financial increased its price target on EQT from $41.00 to $56.00 while maintaining a “hold” rating. Citigroup has also increased its price target from $44.00 to $51.00, rating it as a “buy.” Finally, Mizuho shifted its rating from “neutral” to “outperform” and raised the price target from $48.00 to $57.00. Currently, one analyst rates the stock a “sell,” seven analysts rate it as “hold,” and eleven recommend a “buy.” On average, EQT has a rating of “Moderate Buy” with a consensus price target of $49.94.

EQT Company's Overview

EQT Corporation operates as a natural gas production company in the United States, focusing on the Appalachian Basin. They sell natural gas and natural gas liquids to various customers including marketers, utilities, and industrial users through a network of pipelines. Additionally, EQT provides marketing services and manages pipeline capacity contracts.

EQT, Investment, Shares