Asset Management One Co. Ltd. Boosts Position in EQT Co. (NYSE:EQT)

Asset Management One Co. Ltd. grew its position in shares of EQT Co. (NYSE:EQT) by 34.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,761 shares of the oil and gas producer’s stock after purchasing an additional 54,398 shares during the quarter. Asset Management One Co. Ltd.’s holdings in EQT were worth $7,796,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of EQT by 22.7% during the 1st 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of EQT by 8.4% during 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 in the last quarter. Bank of New York Mellon Corp increased its holdings 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 valued at $752,487,000 after purchasing an additional 464,781 shares in the last quarter. Modera Wealth Management LLC purchased a new position in shares of EQT during the 3rd quarter valued at approximately $562,494,000. Finally, Clearbridge Investments LLC increased its holdings in shares of EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock valued at $335,952,000 after purchasing an additional 253,186 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Trading Up 1.2 %

Shares of EQT stock opened at $40.69 on Friday. The company’s 50-day moving average price is $35.56 and its 200-day moving average price is $36.64. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $17.97 billion, a price-to-earnings ratio of 48.44 and a beta of 1.06. EQT Co. has a twelve month low of $30.02 and a twelve month high of $42.44.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, equities analysts predict that EQT Co. will post 1.39 earnings per share for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.55%. EQT’s payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

EQT has been the subject of several recent research reports. Wolfe Research started coverage on shares of EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price for the company. Piper Sandler boosted their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. Morgan Stanley reissued an “overweight” rating and issued a $45.00 price target on shares of EQT in a report on Friday, September 13th. Finally, Bank of America started coverage on shares of EQT in a report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

About EQT

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.