Marshall Wace LLP Makes New Investment in EQT Co. (NYSE:EQT)

Marshall Wace LLP purchased a new stake in shares of EQT Co. (NYSE:EQT) in the 2nd quarter, Holdings Channel reports. The fund purchased 209,987 shares of the oil and gas producer’s stock, valued at approximately $7,765,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in EQT by 22.7% in 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 purchasing an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 valued at $1,885,590,000 after purchasing an additional 3,942,802 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of EQT by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 20,348,475 shares of the oil and gas producer’s stock worth $752,487,000 after acquiring an additional 464,781 shares in the last quarter. Wellington Management Group LLP boosted its position in EQT by 3.2% during the fourth quarter. Wellington Management Group LLP now owns 20,320,219 shares of the oil and gas producer’s stock worth $785,580,000 after purchasing an additional 632,625 shares in the last quarter. Finally, Capital World Investors grew its stake in EQT by 1.5% in the 4th quarter. Capital World Investors now owns 17,425,711 shares of the oil and gas producer’s stock valued at $673,678,000 after acquiring an additional 265,297 shares during the period. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EQT shares. Morgan Stanley reiterated an “overweight” rating and set a $45.00 price objective on shares of EQT in a research note on Friday, September 13th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Truist Financial reduced their price target 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. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $32.00 in a research note on Thursday, August 15th. Finally, Jefferies Financial Group increased their target price on shares of EQT from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, EQT has an average rating of “Hold” and an average target price of $42.29.

EQT Stock Performance

NYSE EQT opened at $36.53 on Monday. The company has a fifty day moving average of $33.27 and a two-hundred day moving average of $36.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23. The company has a market capitalization of $16.13 billion, a PE ratio of 26.47 and a beta of 1.06.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. EQT had a net margin of 12.45% and a return on equity of 4.52%. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company posted ($0.17) EPS. The company’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, analysts expect that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, August 7th. EQT’s dividend payout ratio (DPR) 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.