EQT Corporation (NYSE:EQT) Position Raised by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in EQT Corporation by 25.7%, owning 65,215 shares valued at approximately $3.48 million as of recent SEC disclosures.
• EQT's stock has received an average rating of "Moderate Buy" from analysts, with a consensus price target of $60.84.
• The company recently declared a $0.1575 quarterly dividend, which gives an annual yield of 1.2%, scheduled for payment on September 2nd.

Mackenzie Financial Corp raised its stake in EQT Corporation (NYSE:EQT - Free Report) by 25.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 65,215 shares of the oil and gas producer's stock after buying an additional 13,325 shares during the quarter. Mackenzie Financial Corp's holdings in EQT were worth $3,484,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EQT. University of Texas Texas AM Investment Management Co. increased its holdings in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after purchasing an additional 310 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of EQT during the fourth quarter valued at $55,000. Colonial Trust Co SC increased its holdings in shares of EQT by 255.5% during the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,022 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of EQT during the fourth quarter valued at $70,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of EQT during the fourth quarter valued at $72,000. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of research analyst reports. UBS Group reissued a "buy" rating on shares of EQT in a report on Monday, July 14th. Royal Bank Of Canada raised their price target on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Mizuho raised EQT to an "outperform" rating and set a $66.00 target price on the stock in a report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Finally, TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

EQT Stock Down 2.5%

Shares of EQT stock opened at $52.42 on Friday. The stock's 50 day simple moving average is $56.10 and its 200 day simple moving average is $53.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02. The company has a market capitalization of $32.71 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.36 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the previous year, the business posted ($0.08) earnings per share. As a group, research analysts predict that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be given a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's payout ratio is currently 34.05%.

Insider Buying and Selling

In other EQT news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares of the company's stock, valued at $690,646.18. The trade was a 48.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

EQT 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.

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