EQT Corporation (NYSE:EQT) Shares Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in EQT Corporation (NYSE:EQT - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 665,742 shares of the oil and gas producer's stock after purchasing an additional 36,687 shares during the quarter. EQT makes up about 2.2% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 15th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.11% of EQT worth $35,571,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQT. Truist Financial Corp increased its position in EQT by 18.0% during the 4th quarter. Truist Financial Corp now owns 28,638 shares of the oil and gas producer's stock valued at $1,321,000 after buying an additional 4,375 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of EQT by 86.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,696 shares of the oil and gas producer's stock worth $124,000 after buying an additional 1,249 shares during the last quarter. Ieq Capital LLC purchased a new position in EQT during the fourth quarter valued at $227,000. First Horizon Advisors Inc. lifted its position in 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 in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in EQT during the fourth quarter valued at $214,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Stock Performance

Shares of NYSE EQT traded up $0.17 during trading on Friday, reaching $58.32. 10,530,306 shares of the company traded hands, compared to its average volume of 7,923,655. The firm's fifty day simple moving average is $54.97 and its 200 day simple moving average is $51.65. The stock has a market cap of $34.91 billion, a P/E ratio of 102.32, a PEG ratio of 0.35 and a beta of 0.65. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data 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. EQT had a return on equity of 5.52% and a net margin of 6.59%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. As a group, research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EQT. TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a research report on Tuesday, April 8th. Piper Sandler lifted their price target on EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. UBS Group raised EQT from a "neutral" rating to a "buy" rating and boosted their target price for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Finally, Wall Street Zen cut EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.00.

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.