Jackson Square Capital LLC Acquires 5,278 Shares of EQT Co. (NYSE:EQT)

Jackson Square Capital LLC lifted its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 34.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,626 shares of the oil and gas producer's stock after buying an additional 5,278 shares during the period. Jackson Square Capital LLC's holdings in EQT were worth $1,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. D.A. Davidson & CO. lifted its position in EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock worth $298,000 after purchasing an additional 762 shares during the period. Teacher Retirement System of Texas acquired a new stake in EQT in the fourth quarter worth approximately $244,000. Nkcfo LLC acquired a new stake in EQT in the fourth quarter worth approximately $738,000. Bradley Foster & Sargent Inc. CT lifted its position in EQT by 31.9% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 67,004 shares of the oil and gas producer's stock worth $3,090,000 after purchasing an additional 16,204 shares during the period. Finally, National Pension Service lifted its position in EQT by 15.0% in the fourth quarter. National Pension Service now owns 870,013 shares of the oil and gas producer's stock worth $40,116,000 after purchasing an additional 113,600 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group raised EQT from a "neutral" rating to a "buy" rating and upped their price target for the company from $54.00 to $64.00 in a report on Monday, May 5th. Piper Sandler upped their price target on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Citigroup upped their price target on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. Mizuho upped their price target on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Stephens dropped their price target on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and a consensus price target of $57.11.

EQT Stock Up 2.3%

EQT traded up $1.30 during trading on Friday, reaching $56.82. 7,731,773 shares of the stock traded hands, compared to its average volume of 7,897,859. The stock has a market cap of $34.02 billion, a price-to-earnings ratio of 142.06, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock's 50-day simple moving average is $53.14 and its two-hundred day simple moving average is $50.60.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, equities research analysts expect that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend 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.