Westfield Capital Management Co. LP Makes New Investment in EQT Corporation (NYSE:EQT)

Westfield Capital Management Co. LP bought a new position in shares of EQT Corporation (NYSE:EQT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,640 shares of the oil and gas producer’s stock, valued at approximately $568,000.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in EQT by 14.1% in the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock valued at $85,000 after buying an additional 196 shares in the last quarter. Fidelis Capital Partners LLC grew its position in shares of EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock valued at $416,000 after purchasing an additional 207 shares in the last quarter. Generali Investments Management Co LLC grew its position in shares of EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer’s stock valued at $91,000 after purchasing an additional 211 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its position in shares of EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer’s stock valued at $309,000 after purchasing an additional 219 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in shares of EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Activity at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares of the company’s stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating and set a $70.00 price target (up from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Barclays boosted their price target on shares of EQT from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company boosted their price target on shares of EQT from $59.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, June 16th. Scotiabank restated a “sector perform” rating and set a $66.00 price target (up from $62.00) on shares of EQT in a research report on Friday, July 11th. Finally, Roth Capital started coverage on shares of EQT in a research report on Tuesday, June 24th. They issued a “buy” rating and a $69.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.84.

EQT Stock Performance

EQT stock opened at $51.68 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $32.25 billion, a PE ratio of 27.94, a P/E/G ratio of 0.36 and a beta of 0.59. The firm has a fifty day simple moving average of $55.93 and a two-hundred day simple moving average of $53.17. EQT Corporation has a twelve month low of $30.17 and a twelve month high of $61.02.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%. During the same period in the prior year, the firm earned ($0.08) earnings per share. Research analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT’s dividend payout ratio is 34.05%.

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.