Investment Management Corp of Ontario Raises Stock Position in EQT Co. (NYSE:EQT)

Investment Management Corp of Ontario boosted its position in shares of EQT Co. (NYSE:EQT) by 63.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 30,731 shares of the oil and gas producer’s stock after acquiring an additional 11,961 shares during the period. Investment Management Corp of Ontario’s holdings in EQT were worth $1,417,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of EQT by 44.2% in the fourth 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 period. D.A. Davidson & CO. grew its position in shares of EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after purchasing an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of EQT by 15.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer’s stock valued at $1,914,000 after purchasing an additional 5,489 shares during the period. Howard Financial Services LTD. acquired a new stake in shares of EQT in the fourth quarter valued at about $223,000. Finally, Segment Wealth Management LLC acquired a new stake in shares of EQT in the fourth quarter valued at about $1,735,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EQT shares. StockNews.com lowered shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. boosted their price target on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Truist Financial boosted their price target 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. Mizuho boosted their price target on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Finally, UBS Group upgraded shares of EQT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $54.00 to $64.00 in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.94.

EQT Trading Up 3.5%

NYSE EQT opened at $55.28 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. EQT Co. has a 52 week low of $30.02 and a 52 week high of $57.23. The stock has a market capitalization of $33.09 billion, a PE ratio of 138.20, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The firm has a 50 day moving average of $50.81 and a two-hundred day moving average of $48.26.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.14%. EQT’s payout ratio is currently 110.53%.

EQT 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.