Allspring Global Investments Holdings LLC Boosts Stock Holdings in EQT Co. (NYSE:EQT)

Allspring Global Investments Holdings LLC increased its holdings in EQT Co. (NYSE:EQT) by 386.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,347,660 shares of the oil and gas producer’s stock after buying an additional 3,454,741 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in EQT were worth $205,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EQT. Wellington Management Group LLP lifted its stake in EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares in the last quarter. State Street Corp grew its holdings in shares of EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Modera Wealth Management LLC purchased a new stake in shares of EQT in the 3rd quarter valued at approximately $562,494,000. Geode Capital Management LLC increased its stake in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of EQT by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after purchasing an additional 1,108,134 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Up 0.7 %

Shares of NYSE:EQT opened at $53.87 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market cap of $32.15 billion, a price-to-earnings ratio of 64.14, a PEG ratio of 0.62 and a beta of 1.08. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The firm’s 50-day simple moving average is $48.14 and its 200-day simple moving average is $40.59.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.17%. EQT’s dividend payout ratio is currently 75.00%.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. Piper Sandler upped their target price on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Stephens raised their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their target price on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.94.

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.