MetLife Investment Management LLC Acquires 3,368 Shares of EQT Co. (NYSE:EQT)

MetLife Investment Management LLC grew its stake in shares of EQT Co. (NYSE:EQT) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,408 shares of the oil and gas producer’s stock after buying an additional 3,368 shares during the period. MetLife Investment Management LLC’s holdings in EQT were worth $7,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of EQT. Parkside Financial Bank & Trust lifted its stake in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 205 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in EQT by 4.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after buying an additional 223 shares during the last quarter. Huntington National Bank grew its holdings in EQT by 7.4% during the 4th quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock valued at $151,000 after buying an additional 224 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in EQT by 15.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $48.49 on Wednesday. The company has a market capitalization of $28.97 billion, a P/E ratio of 121.23, a P/E/G ratio of 0.64 and a beta of 1.35. The company’s 50-day simple moving average is $50.56 and its two-hundred day simple moving average is $46.83. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, equities analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.30%. EQT’s payout ratio is currently 157.50%.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Tuesday, April 8th. Truist Financial lifted their price objective on shares of 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 $51.00 to $60.00 and gave the company a “buy” rating in a report on Monday, March 17th. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. Finally, Mizuho upped their price objective on EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. 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 company. According to MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average target price of $55.50.

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.