Allspring Global Investments Holdings LLC Raises Stake in EQT Co. (NYSE:EQT)

Allspring Global Investments Holdings LLC boosted its holdings in shares of EQT Co. (NYSE:EQT) by 1,138.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 892,919 shares of the oil and gas producer’s stock after purchasing an additional 820,794 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in EQT were worth $32,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC acquired a new stake in EQT during the second quarter worth about $28,000. Hexagon Capital Partners LLC grew its stake in shares of EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the period. Wolff Wiese Magana LLC increased its holdings in shares of EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 908 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares during the period. Finally, Rise Advisors LLC boosted its holdings in EQT by 224.8% during the third quarter. Rise Advisors LLC now owns 1,036 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 717 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EQT shares. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $44.00 in a research note on Thursday, October 3rd. Piper Sandler lowered EQT from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $32.00 in a report on Thursday, August 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 target price on shares of EQT in a research note on Friday, September 13th. Wolfe Research began coverage on shares of EQT in a research note on Thursday, July 18th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, Stephens reduced their price objective on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.18.

EQT Price Performance

NYSE:EQT opened at $36.19 on Thursday. EQT Co. has a one year low of $30.02 and a one year high of $45.23. The stock has a market cap of $15.98 billion, a PE ratio of 26.22 and a beta of 1.06. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day moving average price of $34.66 and a 200 day moving average price of $36.60.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.74%. EQT’s dividend payout ratio (DPR) is 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.