Nikko Asset Management Americas Inc. Has $1.02 Million Stake in EQT Co. (NYSE:EQT)

Nikko Asset Management Americas Inc. lowered its position in EQT Co. (NYSE:EQT) by 24.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,034 shares of the oil and gas producer’s stock after selling 7,306 shares during the period. Nikko Asset Management Americas Inc.’s holdings in EQT were worth $1,016,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of EQT. Wellington Management Group LLP boosted its stake in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. State Street Corp lifted its position in EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC grew its holdings in EQT by 34.4% during the 3rd 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. Charles Schwab Investment Management Inc. increased its position in EQT by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,093,857 shares of the oil and gas producer’s stock valued at $234,878,000 after acquiring an additional 80,799 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of EQT by 386.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

NYSE EQT opened at $51.57 on Tuesday. 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 stock has a market cap of $30.81 billion, a price-to-earnings ratio of 128.93, a PEG ratio of 0.64 and a beta of 1.12. The business has a 50 day simple moving average of $50.90 and a 200 day simple moving average of $43.72. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Analysts anticipate 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 was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.22%. EQT’s dividend payout ratio (DPR) is 157.50%.

Wall Street Analyst Weigh In

EQT has been the subject of several research analyst reports. 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. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Morgan Stanley upped their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Citigroup lifted their price target on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.06.

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.