Allspring Global Investments Holdings LLC Purchases 311,154 Shares of EQT Corporation (NYSE:EQT)

Allspring Global Investments Holdings LLC grew its position in EQT Corporation (NYSE:EQT - Free Report) by 7.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,658,814 shares of the oil and gas producer's stock after buying an additional 311,154 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.78% of EQT worth $251,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EQT. Invesco Ltd. grew its holdings in shares of 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. Slate Path Capital LP acquired a new position in shares of EQT in the 4th quarter valued at $123,575,000. Castle Hook Partners LP grew its holdings in shares of EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after buying an additional 2,658,375 shares during the period. Raymond James Financial Inc. acquired a new position in shares of EQT in the 4th quarter valued at $113,924,000. Finally, Capital International Investors grew its holdings in shares of EQT by 21.3% in 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. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Up 0.3%

NYSE:EQT traded up $0.17 on Friday, hitting $58.32. 10,530,306 shares of the company's stock were exchanged, compared to its average volume of 7,923,655. The firm has a 50-day moving average price of $54.97 and a 200-day moving average price of $51.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. EQT Corporation has a 52 week low of $30.02 and a 52 week high of $61.02. The company has a market cap of $34.91 billion, a P/E ratio of 102.32, a price-to-earnings-growth ratio of 0.35 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a net margin of 6.59% and a return on equity of 5.52%. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. As a group, analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.08%. EQT's dividend payout ratio (DPR) is presently 110.53%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EQT shares. Citigroup boosted their price target on shares of EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. Stephens cut their price objective on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 target price for the company in a research note on Tuesday, April 8th. Mizuho upped their target price on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Roth Capital started coverage on shares of EQT in a research note on Tuesday, June 24th. They issued a "buy" rating and a $69.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

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.