Dorsey Wright & Associates Takes Position in EQT Co. (NYSE:EQT)

Dorsey Wright & Associates purchased a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,584 shares of the oil and gas producer’s stock, valued at approximately $211,000.

Several other large investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of EQT by 38.7% during 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 purchasing an additional 20,700,921 shares during the last quarter. Vanguard Group Inc. boosted its stake in EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after buying an additional 358,649 shares during the last quarter. State Street Corp grew its holdings 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 valued at $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 3,582,418 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of EQT by 7.2% during the 4th quarter. Boston Partners now owns 6,356,476 shares of the oil and gas producer’s stock worth $293,213,000 after acquiring an additional 429,630 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Stephens raised shares of EQT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $59.00 in a research report on Tuesday, March 18th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Jefferies Financial Group raised their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. upped their price target on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.11.

EQT Stock Up 1.4 %

EQT stock opened at $53.07 on Friday. The firm has a market capitalization of $31.71 billion, a P/E ratio of 132.68, a P/E/G ratio of 0.64 and a beta of 1.12. The stock’s fifty day simple moving average is $51.38 and its 200-day simple moving average is $44.93. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66. 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 (NYSE:EQT) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.81 billion. As a group, equities analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio is presently 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.