EQT Co. (NYSE:EQT) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in EQT Co. (NYSE:EQT) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,778 shares of the oil and gas producer’s stock after purchasing an additional 1,106 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in EQT were worth $1,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of EQT. Wellington Management Group LLP boosted its stake in EQT by 61.9% in the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after purchasing an additional 7,526,875 shares in the last quarter. Vanguard Group Inc. lifted its stake in EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after acquiring an additional 3,539,661 shares during the period. Bank of New York Mellon Corp lifted its stake in EQT by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares during the period. Los Angeles Capital Management LLC lifted its stake in EQT by 4,257.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 800,066 shares of the oil and gas producer’s stock valued at $32,467,000 after acquiring an additional 781,706 shares during the period. Finally, Fiera Capital Corp acquired a new stake in EQT during the 3rd quarter valued at approximately $28,017,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Trading Up 2.5 %

Shares of EQT opened at $40.41 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT Co. has a 12-month low of $30.84 and a 12-month high of $45.23. The firm has a 50-day moving average price of $36.31 and a 200 day moving average price of $38.01. The firm has a market capitalization of $17.80 billion, a P/E ratio of 29.28 and a beta of 1.12.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.70%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm posted $1.70 earnings per share. EQT’s quarterly revenue was down 28.8% on a year-over-year basis. Sell-side analysts forecast that EQT Co. will post 0.99 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 45.65%.

Wall Street Analysts Forecast Growth

Several analysts have commented on EQT shares. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. The Goldman Sachs Group lowered their price target on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. Mizuho increased their price target on shares of EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Finally, Piper Sandler lowered their price target on shares of EQT from $47.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, EQT currently has an average rating of “Hold” and an average price target of $44.06.

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.