Ninety One UK Ltd Takes $8.33 Million Position in EQT Corporation (NYSE:EQT)

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

Several other large investors have also added to or reduced their stakes in the business. Pekin Hardy Strauss Inc. bought a new position in EQT in the 1st quarter valued at about $286,000. Capital Advisors Inc. OK lifted its position in shares of EQT by 1.6% during the 1st quarter. Capital Advisors Inc. OK now owns 918,274 shares of the oil and gas producer's stock worth $49,063,000 after buying an additional 14,448 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of EQT by 17.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 454,732 shares of the oil and gas producer's stock worth $24,296,000 after buying an additional 66,401 shares in the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of EQT by 65,994.4% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 23,794 shares of the oil and gas producer's stock worth $1,271,000 after buying an additional 23,758 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of EQT during the 1st quarter worth approximately $233,000. Institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on EQT shares. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 target price on the stock in a research report on Tuesday. Scotiabank lifted their target price on shares of EQT from $62.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Friday. Royal Bank Of Canada lifted their target price on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research report on Tuesday. Finally, Barclays initiated coverage on shares of EQT in a research report on Monday, July 7th. They set an "overweight" rating and a $65.00 target price on the stock. Two 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 $60.15.

EQT Stock Performance

EQT stock traded up $0.81 during mid-day trading on Friday, reaching $55.33. The company's stock had a trading volume of 5,152,372 shares, compared to its average volume of 8,043,542. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02. The company has a market capitalization of $33.13 billion, a P/E ratio of 97.07, a PEG ratio of 0.34 and a beta of 0.65. 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 firm's fifty day moving average price is $56.14 and its two-hundred day moving average price is $52.39.

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 analysts' consensus estimates of $0.98 by $0.20. The business 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%. Sell-side analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared 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 was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.14%. EQT's dividend payout ratio (DPR) is currently 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.