Assenagon Asset Management S.A. Purchases 907,130 Shares of EQT Co. (NYSE:EQT)

Assenagon Asset Management S.A. grew its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 64.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,304,681 shares of the oil and gas producer's stock after buying an additional 907,130 shares during the period. Assenagon Asset Management S.A. owned 0.39% of EQT worth $123,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in EQT. Parkside Financial Bank & Trust raised its position in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after buying an additional 193 shares during the period. EverSource Wealth Advisors LLC increased its holdings in EQT by 26.6% in the 4th 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 in the last quarter. Generali Investments Management Co LLC grew its stake in shares of EQT by 14.1% during the first quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 211 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer's stock valued at $218,000 after acquiring an additional 223 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of EQT by 7.4% during the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock valued at $151,000 after acquiring an additional 224 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen cut EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Piper Sandler raised their price objective on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a research report on Tuesday, April 8th. Finally, Mizuho lifted their price objective on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 1st. Two investment 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. According to data from MarketBeat, EQT currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.11.

EQT Stock Up 2.3%

Shares of EQT stock traded up $1.30 on Friday, hitting $56.82. The company's stock had a trading volume of 7,731,773 shares, compared to its average volume of 7,905,891. The stock has a market capitalization of $34.02 billion, a price-to-earnings ratio of 142.06, a P/E/G ratio of 0.64 and a beta of 0.65. 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 Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.37. The firm's fifty day moving average price is $53.14 and its 200-day moving average price is $50.60.

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

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.11%. EQT's payout ratio is currently 110.53%.

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.