Adage Capital Partners GP L.L.C. Has $125.17 Million Stake in EQT Co. (NYSE:EQT)

Adage Capital Partners GP L.L.C. boosted its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,714,535 shares of the oil and gas producer's stock after purchasing an additional 77,600 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.45% of EQT worth $125,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EQT. Vanguard Group Inc. increased its holdings in EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock valued at $3,344,371,000 after buying an additional 358,649 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of EQT by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock valued at $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Capital International Investors raised its position in shares of EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after buying an additional 2,433,632 shares during the period. Clearbridge Investments LLC increased its stake in EQT by 14.7% during the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after purchasing an additional 1,774,696 shares during the period. Finally, Invesco Ltd. boosted its position in EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock valued at $606,059,000 after buying an additional 4,162,065 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Performance

Shares of NYSE:EQT traded up $0.74 on Monday, hitting $50.98. The company's stock had a trading volume of 2,981,560 shares, compared to its average volume of 7,783,944. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The stock's 50-day moving average is $50.31 and its two-hundred day moving average is $47.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $30.52 billion, a price-to-earnings ratio of 127.44, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, equities research analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's dividend payout ratio is presently 110.53%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQT. StockNews.com cut EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Morgan Stanley boosted their price target on EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a research note on Tuesday, April 8th. Mizuho increased their target price on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Truist Financial raised their target price on shares of EQT from $41.00 to $56.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.39.

About EQT

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.