Global Assets Advisory LLC Acquires 11,862 Shares of EQT Corporation (NYSE:EQT)

Global Assets Advisory LLC raised its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 178.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,495 shares of the oil and gas producer's stock after purchasing an additional 11,862 shares during the quarter. Global Assets Advisory LLC's holdings in EQT were worth $934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQT. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 358,649 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EQT by 3.1% during the fourth 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 in the last quarter. Capital International Investors boosted its position in shares of EQT by 21.3% in the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after acquiring an additional 2,433,632 shares during the period. Clearbridge Investments LLC grew its stake in shares of EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock valued at $637,698,000 after acquiring an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. increased its position in EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after acquiring an additional 4,162,065 shares during the period. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EQT. Mizuho boosted their price objective on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Scotiabank reaffirmed a "sector perform" rating and set a $62.00 target price (up from $57.00) on shares of EQT in a report on Thursday, May 22nd. Morgan Stanley boosted their price target on EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Finally, TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $58.00.

EQT Price Performance

EQT stock traded down $0.07 during trading on Thursday, reaching $58.16. 7,422,116 shares of the company were exchanged, compared to its average volume of 7,909,045. The company has a market capitalization of $34.81 billion, a price-to-earnings ratio of 102.03, a P/E/G ratio of 0.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. The company has a 50-day moving average of $54.68 and a two-hundred day moving average of $51.40. EQT Corporation has a twelve month low of $30.02 and a twelve month high of $61.02.

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, 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 firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. As a group, equities analysts predict that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

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