DAVENPORT & Co LLC Acquires 9,529 Shares of EQT Corporation (NYSE:EQT)

DAVENPORT & Co LLC grew its position in EQT Corporation (NYSE:EQT - Free Report) by 23.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,746 shares of the oil and gas producer's stock after acquiring an additional 9,529 shares during the quarter. DAVENPORT & Co LLC's holdings in EQT were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EQT. Invesco Ltd. grew 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 worth $606,059,000 after purchasing an additional 4,162,065 shares during the last quarter. Slate Path Capital LP bought a new position in EQT in the 4th quarter worth approximately $123,575,000. Castle Hook Partners LP increased its position in 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 acquiring an additional 2,658,375 shares during the period. Raymond James Financial Inc. bought a new stake in EQT during the 4th quarter valued at $113,924,000. Finally, Capital International Investors boosted its position in 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 worth $638,867,000 after acquiring an additional 2,433,632 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

NYSE EQT traded down $0.79 during midday trading on Friday, hitting $55.36. The company had a trading volume of 4,295,628 shares, compared to its average volume of 7,983,694. The firm has a fifty day simple moving average of $55.71 and a two-hundred day simple moving average of $51.99. EQT Corporation has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. 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 stock has a market cap of $33.15 billion, a price-to-earnings ratio of 97.12, a P/E/G ratio of 0.34 and a beta of 0.65.

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 company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were issued 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 1.14%. EQT's dividend payout ratio is currently 110.53%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Roth Capital began coverage on EQT in a research note on Tuesday, June 24th. They set a "buy" rating and a $69.00 target price for the company. Piper Sandler boosted their target price on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. UBS Group upgraded shares of EQT from a "neutral" rating to a "buy" rating and raised their target price for the stock from $54.00 to $64.00 in a report on Monday, May 5th. Stephens dropped their price target on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley lifted their target price on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.