Ninety One UK Ltd Purchases New Position in EQT Corporation (NYSE:EQT)

Ninety One UK Ltd purchased a new position in shares of EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 155,802 shares of the oil and gas producer's stock, valued at approximately $8,325,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EQT. Pekin Hardy Strauss Inc. acquired a new position in EQT in the first quarter worth $286,000. Capital Advisors Inc. OK boosted its holdings in EQT by 1.6% in the first quarter. Capital Advisors Inc. OK now owns 918,274 shares of the oil and gas producer's stock worth $49,063,000 after purchasing an additional 14,448 shares during the period. Envestnet Asset Management Inc. boosted its holdings in EQT by 17.1% in the first quarter. Envestnet Asset Management Inc. now owns 454,732 shares of the oil and gas producer's stock worth $24,296,000 after purchasing an additional 66,401 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in shares of EQT by 65,994.4% during the first quarter. Riggs Asset Managment Co. Inc. now owns 23,794 shares of the oil and gas producer's stock valued at $1,271,000 after acquiring an additional 23,758 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of EQT during the first quarter valued at $233,000. Institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $70.00 price objective (up previously from $60.00) on shares of EQT in a report on Tuesday. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price objective for the company in a report on Tuesday. 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 report on Monday, May 5th. Morgan Stanley upped their price objective on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, TD Cowen raised shares of 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 research analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.95.

EQT Price Performance

NYSE EQT traded down $0.68 during trading on Thursday, reaching $54.20. 3,635,917 shares of the company traded hands, compared to its average volume of 8,001,172. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The stock's 50 day moving average price is $55.99 and its two-hundred day moving average price is $52.24. The company has a market cap of $32.46 billion, a price-to-earnings ratio of 95.03, a P/E/G ratio of 0.35 and a beta of 0.65. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. As a group, analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend yield of 1.16%. EQT's payout ratio 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.