Mitsubishi UFJ Asset Management UK Ltd. Reduces Stock Position in EQT Co. (NYSE:EQT)

Mitsubishi UFJ Asset Management UK Ltd. decreased its stake in shares of EQT Co. (NYSE:EQT) by 33.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,000 shares of the oil and gas producer’s stock after selling 10,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in EQT were worth $733,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQT. Price T Rowe Associates Inc. MD boosted its position in shares of EQT by 22.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,877,405 shares of the oil and gas producer’s stock valued at $2,405,007,000 after acquiring an additional 11,993,729 shares during the last quarter. Vanguard Group Inc. boosted its holdings in EQT by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 50,865,664 shares of the oil and gas producer’s stock valued at $1,885,590,000 after purchasing an additional 3,942,802 shares during the last quarter. Merewether Investment Management LP purchased a new stake in shares of EQT in the 2nd quarter valued at approximately $69,452,000. Boston Partners increased its holdings in shares of EQT by 33.7% during the 1st quarter. Boston Partners now owns 3,834,505 shares of the oil and gas producer’s stock worth $142,178,000 after buying an additional 966,475 shares during the last quarter. Finally, Castle Hook Partners LP raised its position in shares of EQT by 331.7% during the 1st quarter. Castle Hook Partners LP now owns 1,131,771 shares of the oil and gas producer’s stock valued at $41,955,000 after buying an additional 869,601 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Down 1.5 %

Shares of EQT stock traded down $0.57 during trading hours on Friday, reaching $36.49. 5,360,451 shares of the stock were exchanged, compared to its average volume of 7,071,257. The business’s fifty day moving average is $34.39 and its two-hundred day moving average is $36.62. The firm has a market capitalization of $16.11 billion, a P/E ratio of 26.43 and a beta of 1.06. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, research analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.73%. EQT’s dividend payout ratio is currently 45.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, August 14th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $44.00 in a report on Thursday, October 3rd. JPMorgan Chase & Co. increased their target price on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. StockNews.com raised shares of EQT to a “sell” rating in a research note on Friday, July 26th. Finally, Piper Sandler cut shares of EQT from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.18.

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.