FIL Ltd Grows Position in EQT Co. (NYSE:EQT)

FIL Ltd grew its holdings in EQT Co. (NYSE:EQT) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 106,842 shares of the oil and gas producer’s stock after buying an additional 5,894 shares during the quarter. FIL Ltd’s holdings in EQT were worth $4,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of EQT. Invesco Ltd. lifted its position in shares of 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 acquiring an additional 4,162,065 shares in the last quarter. Allspring Global Investments Holdings LLC grew 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 buying an additional 3,454,741 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of EQT during the fourth quarter valued at about $113,924,000. Clearbridge Investments LLC boosted its position in shares of EQT by 14.7% in 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 during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new position in EQT during the fourth quarter valued at approximately $67,977,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Price Performance

EQT opened at $49.66 on Friday. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66. The company has a market cap of $29.67 billion, a price-to-earnings ratio of 124.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $50.93 and a two-hundred day simple moving average of $46.18.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Research analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given 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 1.27%. EQT’s dividend payout ratio is currently 157.50%.

Analyst Upgrades and Downgrades

Several research analysts have commented on EQT shares. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Tuesday, April 8th. Stephens upgraded EQT from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $59.00 in a research report on Tuesday, March 18th. Piper Sandler raised their price target on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Mizuho raised their target price on shares of EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, April 1st. Finally, StockNews.com cut EQT from a “hold” rating to a “sell” rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.72.

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.