Raymond James Financial Inc. Acquires New Shares in EQT Co. (NYSE:EQT)

Raymond James Financial Inc. bought a new position in shares of EQT Co. (NYSE:EQT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,470,700 shares of the oil and gas producer’s stock, valued at approximately $113,924,000. Raymond James Financial Inc. owned approximately 0.41% of EQT as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EQT. Wellington Management Group LLP grew its position 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 buying an additional 20,700,921 shares in the last quarter. State Street Corp grew its position in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC grew its position in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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. Finally, Holocene Advisors LP purchased a new position in shares of EQT in the 3rd quarter worth about $97,979,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EQT shares. Wells Fargo & Company upped their price objective on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. UBS Group upped their price objective on EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Finally, Truist Financial upped their price objective on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $52.44.

EQT Trading Up 1.7 %

EQT opened at $46.96 on Friday. The business has a 50 day simple moving average of $50.58 and a two-hundred day simple moving average of $42.96. The firm has a market capitalization of $28.06 billion, a price-to-earnings ratio of 117.40, a PEG 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 one year low of $30.02 and a one year high of $56.66.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

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

EQT 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.