Resona Asset Management Co. Ltd. Purchases New Position in EQT Co. (NYSE:EQT)

Resona Asset Management Co. Ltd. acquired a new stake in EQT Co. (NYSE:EQT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 163,650 shares of the oil and gas producer's stock, valued at approximately $7,504,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its holdings in shares of EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer's stock worth $2,327,000 after acquiring an additional 32,484 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer's stock worth $4,878,000 after purchasing an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after buying an additional 16,416 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of EQT by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock valued at $298,000 after buying an additional 762 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in EQT by 15.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock worth $1,914,000 after buying an additional 5,489 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several research firms have commented on EQT. UBS Group decreased their target price on shares of EQT from $58.00 to $55.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Sanford C. Bernstein raised shares of EQT from a "market perform" rating to an "outperform" rating and set a $73.00 target price on the stock in a research report on Wednesday, January 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $67.00 price target (up previously from $63.00) on shares of EQT in a research report on Wednesday, March 26th. TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, April 8th. Finally, Scotiabank lowered EQT from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.72.

EQT Stock Performance

EQT traded up $1.17 on Friday, hitting $49.66. 8,892,353 shares of the stock traded hands, compared to its average volume of 7,779,454. The business has a fifty day moving average price of $50.93 and a two-hundred day moving average price of $46.26. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. EQT Co. has a 52 week low of $30.02 and a 52 week high of $56.66. The firm has a market capitalization of $29.67 billion, a PE ratio of 124.16, a P/E/G ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last issued its 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. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. On average, research analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.27%. EQT's payout ratio is currently 157.50%.

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.