Mitsubishi UFJ Asset Management Co. Ltd. Acquires 88,393 Shares of EQT Co. (NYSE:EQT)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in EQT Co. (NYSE:EQT) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 900,400 shares of the oil and gas producer’s stock after acquiring an additional 88,393 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.15% of EQT worth $42,337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Quarry LP raised its position in shares of EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. Financial Avengers Inc. raised its holdings in EQT by 100.8% in the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares during the period. EverSource Wealth Advisors LLC raised its holdings in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after acquiring an additional 205 shares during the period. Parkside Financial Bank & Trust lifted its position in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 193 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in shares of EQT during the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent research reports. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $59.00 in a research report on Tuesday, March 18th. Piper Sandler raised their price target on shares of EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Wells Fargo & Company boosted their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 19th. Finally, StockNews.com raised shares of EQT from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.11.

EQT Stock Performance

NYSE:EQT opened at $53.07 on Friday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $51.38 and its 200 day simple moving average is $44.93. The firm has a market capitalization of $31.71 billion, a PE ratio of 132.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

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

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.19%. EQT’s payout ratio is presently 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.