Resona Asset Management Co. Ltd. Acquires 10,024 Shares of EQT Corporation (NYSE:EQT)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in EQT Corporation by 6.1%, acquiring an additional 10,024 shares, bringing its total ownership to 173,674 shares worth approximately $9.27 million.
• Several institutional investors have also boosted their positions in EQT, leading to a significant 90.81% of the company's stock being owned by these funds.
• EQT's stock has received a consensus rating of "Moderate Buy" with an average price target of $60.95, following multiple upgrades from various analysts.

Resona Asset Management Co. Ltd. increased its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 6.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 173,674 shares of the oil and gas producer's stock after acquiring an additional 10,024 shares during the period. Resona Asset Management Co. Ltd.'s holdings in EQT were worth $9,268,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in EQT. Zions Bancorporation National Association UT purchased a new stake in shares of EQT in the first quarter worth approximately $35,000. Harbour Investments Inc. grew its stake in shares of EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its stake in shares of EQT by 47.7% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in EQT during the 4th quarter valued at approximately $55,000. Finally, Colonial Trust Co SC lifted its holdings in shares of EQT by 255.5% during the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 90.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group reissued a "buy" rating on shares of EQT in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Scotiabank restated a "sector perform" rating and issued a $68.00 target price (up from $66.00) on shares of EQT in a research note on Wednesday. Piper Sandler lifted their price objective on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Roth Capital initiated coverage on shares of EQT in a report on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.95.

EQT Trading Up 1.5%

Shares of EQT stock traded up $0.76 on Friday, reaching $52.81. The company had a trading volume of 10,048,095 shares, compared to its average volume of 9,111,218. The company has a 50-day moving average of $55.28 and a 200-day moving average of $53.14. EQT Corporation has a 12 month low of $31.42 and a 12 month high of $61.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock has a market cap of $32.96 billion, a PE ratio of 28.55, a PEG ratio of 0.36 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business earned ($0.08) EPS. On average, equities analysts forecast that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's payout ratio is 34.05%.

Insider Activity at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This trade represents a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

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.