EQT Corporation (NYSE:EQT) Position Boosted by Jennison Associates LLC

Jennison Associates LLC increased its holdings in EQT Corporation (NYSE:EQT - Free Report) by 35.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 672,267 shares of the oil and gas producer's stock after buying an additional 174,162 shares during the quarter. Jennison Associates LLC owned about 0.11% of EQT worth $35,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. lifted its stake in shares of EQT by 21.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,965 shares of the oil and gas producer's stock worth $459,000 after acquiring an additional 1,727 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of EQT by 2.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 118,804 shares of the oil and gas producer's stock worth $5,478,000 after acquiring an additional 2,407 shares during the period. Axxcess Wealth Management LLC acquired a new stake in shares of EQT in the 4th quarter worth approximately $287,000. Thrivent Financial for Lutherans lifted its stake in shares of EQT by 50.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 45,867 shares of the oil and gas producer's stock worth $2,096,000 after acquiring an additional 15,327 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of EQT by 46.0% in the 4th quarter. Intech Investment Management LLC now owns 18,540 shares of the oil and gas producer's stock worth $855,000 after acquiring an additional 5,843 shares during the period. 90.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

EQT has been the topic of a number of research reports. Roth Capital initiated coverage on shares of EQT in a report on Tuesday, June 24th. They issued a "buy" rating and a $69.00 target price on the stock. Jefferies Financial Group restated a "buy" rating and set a $70.00 price target (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Scotiabank reiterated a "sector perform" rating and issued a $66.00 price objective (up previously from $62.00) on shares of EQT in a research note on Friday, July 11th. Piper Sandler upped 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. Finally, Royal Bank Of Canada upped their price objective on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and an average price target of $60.63.

EQT Stock Performance

Shares of EQT opened at $59.20 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02. The firm's 50 day moving average price is $56.63 and its two-hundred day moving average price is $52.91. The firm has a market cap of $35.45 billion, a P/E ratio of 103.86, a PEG ratio of 0.38 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last issued 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 6.59% and a return on equity of 5.52%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, analysts forecast that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.06%. EQT's dividend payout ratio (DPR) is currently 110.53%.

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.

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