Fifth Third Wealth Advisors LLC Purchases 3,695 Shares of EQT Co. (NYSE:EQT)

Fifth Third Wealth Advisors LLC increased its position in shares of EQT Co. (NYSE:EQT) by 18.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,856 shares of the oil and gas producer’s stock after buying an additional 3,695 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in EQT were worth $1,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of EQT by 38.7% during the 3rd 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 in the last quarter. State Street Corp grew its position in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares in the last quarter. Modera Wealth Management LLC acquired a new stake in EQT in the 3rd quarter valued at $562,494,000. Geode Capital Management LLC lifted its position in EQT by 34.4% during 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 buying an additional 3,582,418 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of EQT by 2.9% in 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 acquiring an additional 253,186 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

EQT has been the subject of several recent research reports. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and increased their price target for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and set a $49.00 target price on shares of EQT in a report on Monday, January 6th. Jefferies Financial Group increased their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler raised their target price on shares of EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Stock Up 3.3 %

EQT opened at $52.38 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a fifty day moving average of $45.09 and a 200-day moving average of $38.45. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $53.00. The company has a market capitalization of $31.25 billion, a P/E ratio of 62.36 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts expect that EQT Co. will post 1.37 EPS for the current year.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

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.