GF Fund Management CO. LTD. Makes New Investment in EQT Co. (NYSE:EQT)

GF Fund Management CO. LTD. bought a new stake in shares of EQT Co. (NYSE:EQT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 180,385 shares of the oil and gas producer's stock, valued at approximately $8,318,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. lifted its position in shares of EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after acquiring an additional 310 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock valued at $48,000 after purchasing an additional 193 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of EQT during the fourth quarter valued at about $55,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock valued at $55,000 after purchasing an additional 298 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EQT. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, April 8th. Piper Sandler upped their price objective on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Morgan Stanley upped their price objective on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Scotiabank reiterated a "sector perform" rating and set a $62.00 price objective (up previously from $57.00) on shares of EQT in a report on Thursday, May 22nd. Finally, Citigroup boosted their target price on shares of EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and an average target price of $57.11.

EQT Stock Performance

Shares of EQT stock traded down $1.11 on Wednesday, reaching $55.45. 5,045,647 shares of the company traded hands, compared to its average volume of 7,904,972. EQT Co. has a 52 week low of $30.02 and a 52 week high of $57.37. The company has a 50 day moving average of $52.20 and a 200 day moving average of $49.66. The firm has a market capitalization of $33.19 billion, a PE ratio of 138.63, a PEG ratio of 0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

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

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors 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 dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's payout ratio is currently 110.53%.

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.