Worldquant Millennium Advisors LLC Purchases New Holdings in EQT Co. (NYSE:EQT)

Worldquant Millennium Advisors LLC bought a new position in EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 521,489 shares of the oil and gas producer's stock, valued at approximately $24,046,000. Worldquant Millennium Advisors LLC owned about 0.09% of EQT as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its stake in EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after buying an additional 4,162,065 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer's stock valued at $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. Slate Path Capital LP bought a new position in EQT in the 4th quarter valued at $123,575,000. Castle Hook Partners LP boosted its stake in EQT by 199.5% in the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock worth $184,012,000 after purchasing an additional 2,658,375 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of EQT during the fourth quarter worth $113,924,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Trading Down 0.2%

Shares of EQT traded down $0.11 during trading hours on Friday, reaching $55.58. The stock had a trading volume of 6,812,553 shares, compared to its average volume of 7,923,174. The firm has a 50-day moving average of $52.04 and a 200 day moving average of $49.26. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a market cap of $33.27 billion, a P/E ratio of 138.95, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a 52 week low of $30.02 and a 52 week high of $57.37.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. On average, sell-side analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, May 7th. EQT's payout ratio is 110.53%.

Analysts Set New Price Targets

EQT has been the subject of a number of research analyst reports. Stephens cut their price target on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Morgan Stanley boosted their target price on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reissued a "reduce" rating on shares of EQT in a report on Wednesday, February 12th. Mizuho upped their price objective on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Finally, Citigroup increased their price objective on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, EQT has an average rating of "Moderate Buy" and an average target price of $57.11.

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.