Cambridge Investment Research Advisors Inc. Increases Stock Position in EQT Corporation (NYSE:EQT)

Cambridge Investment Research Advisors Inc. lifted its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 48.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,244 shares of the oil and gas producer's stock after purchasing an additional 22,207 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in EQT were worth $3,646,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Truist Financial Corp raised its stake 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 worth $1,321,000 after acquiring an additional 4,375 shares in the last quarter. Ieq Capital LLC acquired a new stake in EQT during the 4th quarter worth $227,000. Lake Street Advisors Group LLC acquired a new stake in EQT during the 4th quarter worth $214,000. National Pension Service raised its stake in EQT by 15.0% during the 4th quarter. National Pension Service now owns 870,013 shares of the oil and gas producer's stock worth $40,116,000 after acquiring an additional 113,600 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in EQT by 2.6% during the 4th quarter. New York Life Investment Management LLC now owns 80,453 shares of the oil and gas producer's stock worth $3,710,000 after acquiring an additional 2,012 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of EQT from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Morgan Stanley lifted their price objective on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Finally, Scotiabank restated a "sector perform" rating and issued a $62.00 price objective (up from $57.00) on shares of EQT in a research note on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

EQT Stock Performance

Shares of NYSE:EQT traded up $0.17 during midday trading on Friday, hitting $58.32. The stock had a trading volume of 10,530,306 shares, compared to its average volume of 7,923,655. The company has a market capitalization of $34.91 billion, a PE ratio of 102.32, a P/E/G ratio of 0.35 and a beta of 0.65. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02. The stock has a 50 day moving average price of $54.97 and a two-hundred day moving average price of $51.65. 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 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. As a group, equities analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend 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.