Mackenzie Financial Corp Buys 7,425 Shares of EQT Co. (NYSE:EQT)

Mackenzie Financial Corp boosted its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,890 shares of the oil and gas producer's stock after buying an additional 7,425 shares during the period. Mackenzie Financial Corp's holdings in EQT were worth $2,393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EQT. University of Texas Texas AM Investment Management Co. boosted its position in EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock valued at $44,000 after buying an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in EQT by 26.6% during the fourth 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 last quarter. Parkside Financial Bank & Trust grew its stake in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after buying an additional 193 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in EQT during the fourth quarter worth about $55,000. Finally, First Horizon Advisors Inc. grew its stake in EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock worth $55,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen raised shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a research note on Tuesday, April 8th. Scotiabank reaffirmed a "sector perform" rating and set a $62.00 price objective (up from $57.00) on shares of EQT in a research note on Thursday, May 22nd. UBS Group raised shares of EQT from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $54.00 to $64.00 in a research note on Monday, May 5th. Wall Street Zen cut shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Finally, Stephens decreased their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.11.

EQT Trading Down 0.7%

Shares of NYSE:EQT traded down $0.37 during mid-day trading on Friday, reaching $55.00. The stock had a trading volume of 7,853,187 shares, compared to its average volume of 7,909,030. The firm has a 50 day simple moving average of $52.29 and a two-hundred day simple moving average of $49.86. EQT Co. has a twelve month low of $30.02 and a twelve month high of $57.37. The firm has a market cap of $32.92 billion, a PE ratio of 137.50, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37.

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 the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. On average, research analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.15%. EQT's dividend payout ratio is presently 110.53%.

EQT Profile

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.