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

Ninety One UK Ltd acquired a new stake in EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 155,802 shares of the oil and gas producer's stock, valued at approximately $8,325,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after acquiring an additional 205 shares during the period. Generali Investments Management Co LLC raised its stake in EQT by 14.1% in the 1st quarter. Generali Investments Management Co LLC now owns 1,711 shares of the oil and gas producer's stock valued at $91,000 after acquiring an additional 211 shares during the period. Bartlett & CO. Wealth Management LLC raised its stake in EQT by 3.9% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer's stock valued at $309,000 after acquiring an additional 219 shares during the period. Huntington National Bank raised its stake in EQT by 7.4% in the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer's stock valued at $151,000 after acquiring an additional 224 shares during the period. Finally, Blue Trust Inc. raised its stake in EQT by 16.1% in the 1st quarter. Blue Trust Inc. now owns 1,806 shares of the oil and gas producer's stock valued at $96,000 after acquiring an additional 250 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Price Performance

NYSE:EQT traded down $0.12 during trading hours on Wednesday, hitting $54.74. The company's stock had a trading volume of 8,462,357 shares, compared to its average volume of 8,009,497. The stock has a fifty day simple moving average of $55.88 and a 200-day simple moving average of $52.23. The company has a market capitalization of $32.78 billion, a P/E ratio of 96.04, a PEG ratio of 0.35 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. 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 released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. On average, analysts anticipate that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, May 7th. EQT's dividend payout ratio (DPR) is presently 110.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays assumed coverage on EQT in a report on Monday. They issued an "overweight" rating and a $65.00 price objective on the stock. Wall Street Zen lowered EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Citigroup upped their price objective on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a report on Monday, March 17th. TD Cowen raised 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. Finally, Wells Fargo & Company upped their price objective on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.95.

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.