Sandia Investment Management LP bought a new position in shares of EQT Co. (NYSE:EQT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the oil and gas producer's stock, valued at approximately $231,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock worth $3,344,371,000 after purchasing an additional 358,649 shares during the period. Geode Capital Management LLC raised its position in EQT by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock valued at $663,552,000 after acquiring an additional 429,733 shares in the last quarter. Capital International Investors raised its position in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after acquiring an additional 2,433,632 shares in the last quarter. Clearbridge Investments LLC raised its position in EQT by 14.7% during the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock valued at $637,698,000 after acquiring an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. raised its position 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 valued at $606,059,000 after acquiring an additional 4,162,065 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.
Analyst Upgrades and Downgrades
EQT has been the subject of several recent research reports. Citigroup lifted their price target on EQT from $51.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Stephens reduced their price target on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Piper Sandler lifted their price target on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and lifted their price target for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Finally, TD Cowen upgraded EQT from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, EQT has an average rating of "Moderate Buy" and an average target price of $56.67.
Read Our Latest Stock Report on EQT
EQT Price Performance
Shares of NYSE:EQT traded up $0.53 during trading on Tuesday, reaching $56.09. The stock had a trading volume of 5,805,327 shares, compared to its average volume of 7,945,379. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The business has a fifty day moving average price of $51.71 and a 200-day moving average price of $49.04. The stock has a market cap of $33.58 billion, a PE ratio of 140.23, a PEG ratio of 0.64 and a beta of 0.59. EQT Co. has a 1-year low of $30.02 and a 1-year high of $57.31.
EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, equities analysts forecast that EQT Co. will post 3.27 earnings per share for the current fiscal year.
EQT Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT's dividend payout ratio is presently 110.53%.
About EQT
(
Free Report)
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.
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