155,802 Shares in EQT Corporation (NYSE:EQT) Bought by Ninety One UK Ltd

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

Several other hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in EQT by 27.5% during the fourth quarter. Jones Financial Companies Lllp now owns 7,219 shares of the oil and gas producer's stock worth $333,000 after acquiring an additional 1,558 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in EQT by 287.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,737 shares of the oil and gas producer's stock worth $311,000 after acquiring an additional 4,997 shares during the last quarter. Assetmark Inc. lifted its position in EQT by 47.4% during the fourth quarter. Assetmark Inc. now owns 41,111 shares of the oil and gas producer's stock worth $1,896,000 after acquiring an additional 13,212 shares during the last quarter. Atria Investments Inc lifted its position in EQT by 35.7% during the fourth quarter. Atria Investments Inc now owns 7,460 shares of the oil and gas producer's stock worth $344,000 after acquiring an additional 1,961 shares during the last quarter. Finally, M&T Bank Corp lifted its position in EQT by 7.4% during the fourth quarter. M&T Bank Corp now owns 26,748 shares of the oil and gas producer's stock worth $1,233,000 after acquiring an additional 1,835 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EQT. JPMorgan Chase & Co. raised their price objective on shares of EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, March 13th. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a research report on Tuesday, April 8th. Morgan Stanley lifted their price target on shares of EQT from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 price target for the company in a research report on Tuesday. Finally, Piper Sandler lifted their price target on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.15.

EQT Price Performance

Shares of NYSE:EQT traded up $0.81 during trading on Friday, hitting $55.33. 5,108,873 shares of the company were exchanged, compared to its average volume of 8,025,265. The business's 50 day moving average is $56.07 and its 200-day moving average is $52.32. The company has a market capitalization of $33.13 billion, a P/E ratio of 97.07, a price-to-earnings-growth ratio of 0.35 and a beta of 0.65. 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 Corporation has a 1-year low of $30.02 and a 1-year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) 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 the consensus estimate of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were issued a dividend of $0.1575 per share. The ex-dividend date was Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.14%. EQT's dividend payout ratio (DPR) is presently 110.53%.

EQT Company 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.