Asahi Life Asset Management CO. LTD. Invests $399,000 in EQT Corporation (NYSE:EQT)

Asahi Life Asset Management CO. LTD. acquired a new stake in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,460 shares of the oil and gas producer's stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 205 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of EQT by 2.6% in the first quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer's stock worth $416,000 after acquiring an additional 207 shares during the last quarter. Generali Investments Management Co LLC raised its stake in EQT by 14.1% in 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 during the last quarter. Bartlett & CO. Wealth Management LLC lifted its stake in shares of EQT by 3.9% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after buying an additional 219 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of EQT by 7.4% in the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock valued at $151,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Up 5.4%

EQT stock traded up $3.00 during mid-day trading on Monday, hitting $58.33. The company had a trading volume of 9,981,847 shares, compared to its average volume of 8,254,928. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $56.14 and a 200 day moving average of $52.50. The stock has a market cap of $34.93 billion, a price-to-earnings ratio of 102.33, a PEG ratio of 0.35 and a beta of 0.65. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.16 billion. On average, sell-side analysts expect that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend payout ratio is currently 110.53%.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 target price (up from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Piper Sandler increased their price objective on EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada increased their price target on EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 8th. Wells Fargo & Company lifted 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. Finally, Wall Street Zen cut shares of EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.15.

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.