229,437 Shares in EQT Co. (NYSE:EQT) Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB bought a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 229,437 shares of the oil and gas producer’s stock, valued at approximately $10,585,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. State Street Corp increased its stake in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC increased its stake in EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in EQT by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,093,857 shares of the oil and gas producer’s stock worth $234,878,000 after purchasing an additional 80,799 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after purchasing an additional 3,454,741 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Up 1.7 %

Shares of EQT stock opened at $46.96 on Friday. The firm has a market cap of $28.06 billion, a price-to-earnings ratio of 117.40, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The stock has a 50-day simple moving average of $50.58 and a 200-day simple moving average of $42.96.

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

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.34%. EQT’s dividend payout ratio (DPR) is currently 157.50%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EQT. Wells Fargo & Company lifted their price target on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Truist Financial lifted their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. StockNews.com raised EQT to a “sell” rating in a research note on Saturday, February 8th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.44.

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.