Perpetual Ltd Acquires New Shares in EQT Corporation (NYSE:EQT)

Perpetual Ltd purchased a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,287 shares of the oil and gas producer's stock, valued at approximately $603,000.

Several other large investors have also added to or reduced their stakes in the stock. Truist Financial Corp increased its stake in EQT by 18.0% during the 4th quarter. Truist Financial Corp now owns 28,638 shares of the oil and gas producer's stock valued at $1,321,000 after purchasing an additional 4,375 shares in the last quarter. Ieq Capital LLC bought a new position in EQT in the 4th quarter worth $227,000. Lake Street Advisors Group LLC bought a new stake in EQT during the fourth quarter valued at about $214,000. National Pension Service increased its position in EQT by 15.0% in the fourth quarter. National Pension Service now owns 870,013 shares of the oil and gas producer's stock worth $40,116,000 after buying an additional 113,600 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of EQT by 2.6% in the fourth quarter. New York Life Investment Management LLC now owns 80,453 shares of the oil and gas producer's stock worth $3,710,000 after buying an additional 2,012 shares during the period. Institutional investors own 90.81% of the company's stock.

EQT Stock Performance

Shares of EQT stock traded up $0.02 during trading on Monday, reaching $58.33. The company's stock had a trading volume of 11,136,878 shares, compared to its average volume of 7,937,123. The company has a 50-day moving average price of $54.97 and a two-hundred day moving average price of $51.69. EQT Corporation has a fifty-two week low of $30.02 and a fifty-two week high of $61.02. The firm has a market cap of $34.92 billion, a PE ratio of 102.34, a P/E/G ratio of 0.35 and a beta of 0.65. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.33.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a return on equity of 5.52% and a net margin of 6.59%. On average, analysts forecast that EQT Corporation will post 3.27 EPS for the current 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 issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Wednesday, May 7th. EQT's dividend payout ratio is presently 110.53%.

Analyst Upgrades and Downgrades

EQT has been the subject of several analyst reports. UBS Group raised shares of EQT from a "neutral" rating to a "buy" rating and increased their target price for the stock from $54.00 to $64.00 in a report on Monday, May 5th. Wells Fargo & Company lifted their target price on EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Roth Capital started coverage on EQT in a research note on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price target for the company. Piper Sandler raised their price objective on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. Finally, Scotiabank reissued 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

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.