Candriam S.C.A. Acquires 2,459 Shares of EQT Co. (NYSE:EQT)

Candriam S.C.A. grew its holdings in shares of EQT Co. (NYSE:EQT) by 9.7% during the second quarter, Holdings Channel reports. The firm owned 27,869 shares of the oil and gas producer’s stock after purchasing an additional 2,459 shares during the period. Candriam S.C.A.’s holdings in EQT were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in EQT by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after buying an additional 11,993,729 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of EQT by 27.9% in the 1st quarter. Bank of New York Mellon Corp now owns 19,883,694 shares of the oil and gas producer’s stock valued at $737,089,000 after acquiring an additional 4,339,407 shares in the last quarter. Vanguard Group Inc. lifted its holdings in EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock worth $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Boston Partners boosted its position in EQT by 4,680.4% during the fourth quarter. Boston Partners now owns 2,868,030 shares of the oil and gas producer’s stock worth $110,854,000 after purchasing an additional 2,808,034 shares during the period. Finally, Third Point LLC acquired a new position in EQT during the fourth quarter valued at approximately $75,387,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Tuesday, July 23rd. Wolfe Research assumed coverage on EQT in a research note on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price for the company. Jefferies Financial Group raised their target price on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Truist Financial lowered their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Finally, Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $32.00 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.35.

EQT Stock Performance

NYSE:EQT opened at $32.12 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $33.79 and a 200 day moving average price of $36.63. The firm has a market capitalization of $14.18 billion, a PE ratio of 23.28 and a beta of 1.06. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. EQT’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. Research analysts anticipate that EQT Co. will post 1.43 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.96%. EQT’s dividend payout ratio is presently 45.65%.

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.