GAMMA Investing LLC Grows Stock Position in EQT Co. (NYSE:EQT)

GAMMA Investing LLC increased its position in shares of EQT Co. (NYSE:EQT - Free Report) by 7,501.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 638,489 shares of the oil and gas producer's stock after buying an additional 630,089 shares during the quarter. GAMMA Investing LLC owned about 0.11% of EQT worth $34,114,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in EQT by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock worth $3,344,371,000 after buying an additional 358,649 shares during the period. Geode Capital Management LLC raised its stake in EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock worth $663,552,000 after buying an additional 429,733 shares during the period. Capital International Investors raised its stake in EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after buying an additional 2,433,632 shares during the period. Clearbridge Investments LLC raised its stake in EQT by 14.7% during the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after buying an additional 1,774,696 shares during the period. Finally, Invesco Ltd. raised its stake in EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after buying an additional 4,162,065 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT traded down $0.20 on Thursday, reaching $55.29. 4,423,362 shares of the company's stock traded hands, compared to its average volume of 7,896,189. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $33.10 billion, a PE ratio of 138.22, a PEG ratio of 0.64 and a beta of 0.59. The stock's 50 day simple moving average is $52.50 and its two-hundred day simple moving average is $50.13. EQT Co. has a 52-week low of $30.02 and a 52-week high of $57.37.

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

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend payout ratio is currently 110.53%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup upped their price target on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. UBS Group raised EQT from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Piper Sandler increased their price objective on EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Mizuho increased their price objective on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. Finally, Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Two equities research 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.

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.