Capital International Investors Acquires 2,433,632 Shares of EQT Co. (NYSE:EQT)

Capital International Investors increased its holdings in shares of EQT Co. (NYSE:EQT) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,855,244 shares of the oil and gas producer’s stock after purchasing an additional 2,433,632 shares during the period. Capital International Investors owned 2.32% of EQT worth $638,867,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EQT. Retirement Systems of Alabama lifted its position in EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after acquiring an additional 35,733 shares during 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 purchasing an additional 16,416 shares during the last quarter. D.A. Davidson & CO. boosted its position 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 worth $298,000 after purchasing an additional 762 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in EQT by 15.2% during the 4th 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. Finally, Howard Financial Services LTD. acquired a new position in EQT during the 4th quarter valued at about $223,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup raised their price target on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Jefferies Financial Group upped their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Stephens lowered their price target on EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.56.

EQT Stock Performance

EQT opened at $51.01 on Friday. The stock has a market cap of $30.47 billion, a P/E ratio of 127.52, a P/E/G ratio of 0.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The firm has a fifty day moving average price of $50.75 and a 200 day moving average price of $46.61. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.81 billion. Equities research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s payout ratio is presently 157.50%.

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.