Harvest Fund Management Co. Ltd Boosts Stock Position in EQT Co. (NYSE:EQT)

Harvest Fund Management Co. Ltd grew its stake in shares of EQT Co. (NYSE:EQT) by 1,489.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733 shares of the oil and gas producer’s stock after acquiring an additional 2,561 shares during the period. Harvest Fund Management Co. Ltd’s holdings in EQT were worth $126,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EQT. Wellington Management Group LLP lifted its position in shares of EQT by 38.7% during the third 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 acquiring an additional 20,700,921 shares in the last quarter. State Street Corp lifted its position in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after acquiring an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of EQT by 34.4% during the third 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of EQT by 386.9% during the fourth 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 acquiring an additional 3,454,741 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of EQT in the third quarter worth $97,979,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Down 1.6 %

Shares of NYSE:EQT opened at $52.89 on Friday. The stock’s 50-day moving average price is $51.25 and its 200-day moving average price is $44.20. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66. The stock has a market capitalization of $31.60 billion, a P/E ratio of 132.23, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. 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 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. On average, equities analysts anticipate that EQT Co. will post 3.27 earnings per share for the current 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 of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. EQT’s payout ratio is presently 157.50%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EQT shares. Stephens upgraded EQT from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $41.00 to $59.00 in a research report on Tuesday, March 18th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group increased their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

About EQT

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.