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

AMF Tjanstepension AB purchased a new position in EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 229,437 shares of the oil and gas producer’s stock, valued at approximately $10,585,000.

Several other institutional investors also recently added to or reduced their stakes in EQT. Wellington Management Group LLP increased its position in EQT by 38.7% in 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 buying an additional 20,700,921 shares during the period. State Street Corp increased its position 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 buying an additional 7,290,822 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 3,582,418 shares during the period. Allspring Global Investments Holdings LLC increased its position 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 buying an additional 3,454,741 shares during the period. Finally, Holocene Advisors LP bought a new position in EQT in the 3rd quarter worth approximately $97,979,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

Shares of NYSE:EQT opened at $46.96 on Friday. The business’s fifty day moving average price is $50.58 and its two-hundred day moving average price is $42.96. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The stock has a market capitalization of $28.06 billion, a price-to-earnings ratio of 117.40, a price-to-earnings-growth 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 (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. The company had revenue of $1.82 billion for 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%. As a group, analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

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

Analyst Ratings Changes

EQT has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research report on Monday, January 6th. UBS Group boosted their price objective on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Truist Financial boosted their price objective on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group boosted their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, EQT has an average rating of “Hold” and an average target price of $52.44.

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.