Mesirow Institutional Investment Management Inc. Boosts Stake in EQT Co. (NYSE:EQT)

Mesirow Institutional Investment Management Inc. increased its stake in EQT Co. (NYSE:EQT) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 85,060 shares of the oil and gas producer’s stock after buying an additional 2,003 shares during the quarter. Mesirow Institutional Investment Management Inc.’s holdings in EQT were worth $3,922,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. MML Investors Services LLC boosted its holdings in shares of EQT by 29.3% in the 3rd quarter. MML Investors Services LLC now owns 17,895 shares of the oil and gas producer’s stock worth $656,000 after purchasing an additional 4,057 shares in the last quarter. Bard Financial Services Inc. purchased a new stake in EQT in the third quarter worth approximately $878,000. Wilmington Savings Fund Society FSB bought a new position in EQT during the third quarter valued at approximately $165,000. Blankinship & Foster LLC purchased a new position in shares of EQT during the third quarter worth approximately $4,051,000. Finally, Tidal Investments LLC boosted its stake in shares of EQT by 55.8% in the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock valued at $2,228,000 after purchasing an additional 21,789 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT opened at $51.01 on Friday. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66. The company has a market cap of $30.47 billion, a price-to-earnings ratio of 127.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $50.75 and a two-hundred day simple moving average of $46.68.

EQT (NYSE:EQT) last issued its quarterly earnings results 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. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. Research analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Analysts Set New Price Targets

EQT has been the topic of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 target price on shares of EQT in a research report on Monday, January 6th. Truist Financial increased their target price on EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Scotiabank cut EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. UBS Group cut their target price on shares of EQT from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Stephens lowered their price target on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $55.56.

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.