KBC Group NV Increases Stake in EQT Corporation (NYSE:EQT)

KBC Group NV lifted its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,729 shares of the oil and gas producer's stock after buying an additional 7,092 shares during the quarter. KBC Group NV's holdings in EQT were worth $2,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. increased its position in shares of EQT by 15.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,288,322 shares of the oil and gas producer's stock valued at $68,835,000 after buying an additional 172,249 shares during the period. Confluence Wealth Services Inc. purchased a new position in shares of EQT during the first quarter valued at about $242,000. Allspring Global Investments Holdings LLC grew its holdings in EQT by 7.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock worth $251,017,000 after purchasing an additional 311,154 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in EQT by 5.8% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 665,742 shares of the oil and gas producer's stock worth $35,571,000 after purchasing an additional 36,687 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in EQT by 40.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,252 shares of the oil and gas producer's stock worth $3,989,000 after purchasing an additional 21,697 shares during the period. Hedge funds and other institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of recent research reports. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, April 8th. Citigroup upped their price objective on shares of EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Roth Capital initiated coverage on shares of EQT in a report on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price objective on the stock. Stephens cut their price objective on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.00.

EQT Trading Down 1.4%

NYSE:EQT opened at $55.36 on Friday. The stock has a market cap of $33.14 billion, a price-to-earnings ratio of 97.12, a PEG ratio of 0.34 and a beta of 0.65. The company's 50 day moving average price is $55.61 and its 200-day moving average price is $51.91. EQT Corporation has a 52 week low of $30.02 and a 52 week high of $61.02. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The company 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%. On average, equities research analysts forecast 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 given a dividend of $0.1575 per share. 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 1.14%. EQT's dividend payout ratio (DPR) is 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.

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