Envestnet Asset Management Inc. Grows Position in EQT Corporation (NYSE:EQT)

Envestnet Asset Management Inc. grew its stake in EQT Corporation (NYSE:EQT - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 454,732 shares of the oil and gas producer's stock after acquiring an additional 66,401 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of EQT worth $24,296,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after buying an additional 205 shares during the period. Generali Investments Management Co LLC increased its stake in EQT by 14.1% during the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock worth $91,000 after buying an additional 211 shares during the period. Bartlett & CO. Wealth Management LLC increased its stake in EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock worth $309,000 after buying an additional 219 shares during the period. Huntington National Bank increased its stake in EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock worth $151,000 after buying an additional 224 shares during the period. Finally, Blue Trust Inc. increased its stake in EQT by 16.1% during the 1st quarter. Blue Trust Inc. now owns 1,806 shares of the oil and gas producer's stock worth $96,000 after buying an additional 250 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Scotiabank reiterated a "sector perform" rating and set a $66.00 price target (up previously from $62.00) on shares of EQT in a report on Friday, July 11th. Piper Sandler boosted their price target on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Jefferies Financial Group restated a "buy" rating and issued a $70.00 target price (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Finally, UBS Group restated a "buy" rating on shares of EQT in a report on Monday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.15.

EQT Price Performance

NYSE:EQT traded up $0.45 during mid-day trading on Friday, hitting $59.20. 6,066,929 shares of the company's stock traded hands, compared to its average volume of 8,056,840. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The firm's 50 day simple moving average is $56.63 and its 200 day simple moving average is $52.86. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02. The company has a market cap of $35.45 billion, a PE ratio of 103.86, a price-to-earnings-growth ratio of 0.38 and a beta of 0.65.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion during 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%. Sell-side analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th will be issued a dividend of $0.1575 per share. The ex-dividend date 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 presently 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.