EQT Co. (NYSE:EQT) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its position in EQT Co. (NYSE:EQT - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,829,938 shares of the oil and gas producer's stock after purchasing an additional 1,774,696 shares during the quarter. Clearbridge Investments LLC owned 2.32% of EQT worth $637,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EQT. Wellington Management Group LLP raised its holdings in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer's stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the period. State Street Corp raised its stake in shares of 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 valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $511,159,000 after acquiring an additional 3,582,418 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in EQT by 386.9% during 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 during the period. Finally, Holocene Advisors LP acquired a new stake in EQT in the 3rd quarter valued at $97,979,000. 90.81% of the stock is owned by institutional investors and hedge funds.

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EQT Stock Performance

EQT stock traded up $0.78 during trading on Wednesday, hitting $54.66. 7,582,209 shares of the company's stock traded hands, compared to its average volume of 7,513,863. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The stock has a fifty day moving average price of $51.40 and a two-hundred day moving average price of $45.31. 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 has a market capitalization of $32.66 billion, a price-to-earnings ratio of 136.65, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT - Get Free Report) last issued its earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, equities analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.15%. EQT's payout ratio is currently 157.50%.

Analysts Set New Price Targets

EQT has been the topic of a number of recent research reports. Scotiabank cut EQT from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Jefferies Financial Group upped their price target on EQT from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, March 19th. Royal Bank of Canada restated a "sector perform" rating and issued a $49.00 target price on shares of EQT in a research note on Monday, January 6th. Finally, Truist Financial raised their price target on shares of EQT from $41.00 to $56.00 and gave the company a "hold" rating in a report on Monday, January 13th. 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 company. Based on data from MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and an average price target of $55.28.

EQT Company 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.