Allspring Global Investments Holdings LLC Boosts Position in EQT Co. (NYSE:EQT)

Allspring Global Investments Holdings LLC raised its position in shares of EQT Co. (NYSE:EQT) by 386.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,347,660 shares of the oil and gas producer’s stock after purchasing an additional 3,454,741 shares during the period. Allspring Global Investments Holdings LLC owned about 0.73% of EQT worth $205,830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. HM Payson & Co. purchased a new stake in shares of EQT in the 3rd quarter worth approximately $25,000. Truvestments Capital LLC purchased a new position in EQT during the third quarter valued at approximately $30,000. Quarry LP raised its stake in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 578 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in EQT during the third quarter worth $36,000. Finally, Financial Avengers Inc. boosted its position in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 504 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

EQT Stock Up 0.7 %

Shares of EQT stock opened at $53.87 on Wednesday. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The firm has a market capitalization of $32.15 billion, a PE ratio of 64.14, a P/E/G ratio of 0.62 and a beta of 1.08. 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’s 50-day simple moving average is $48.14 and its 200-day simple moving average is $40.59.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.17%. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EQT. Truist Financial upped their price objective on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup increased their price target on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.94.

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.