Glenorchy Capital Ltd Takes $1.57 Million Position in EQT Co. (NYSE:EQT)

Glenorchy Capital Ltd acquired a new stake in EQT Co. (NYSE:EQT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 40,673 shares of the oil and gas producer’s stock, valued at approximately $1,572,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in EQT by 61.9% during the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock valued at $798,923,000 after purchasing an additional 7,526,875 shares during the period. Vanguard Group Inc. increased its position in EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after purchasing an additional 3,539,661 shares during the period. Bank of New York Mellon Corp increased its position in EQT by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after purchasing an additional 1,098,211 shares during the period. Los Angeles Capital Management LLC increased its position in EQT by 4,257.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 800,066 shares of the oil and gas producer’s stock valued at $32,467,000 after purchasing an additional 781,706 shares during the period. Finally, Fiera Capital Corp acquired a new stake in EQT during the 3rd quarter valued at approximately $28,017,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on EQT. Mizuho increased their target price on shares of EQT from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial cut their price target on EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. JPMorgan Chase & Co. restated a “neutral” rating and set a $37.00 price target (down from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, Wells Fargo & Company cut EQT from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, EQT has a consensus rating of “Hold” and a consensus target price of $43.38.

EQT Stock Up 0.0 %

NYSE:EQT traded up $0.01 during trading hours on Tuesday, hitting $37.98. 7,590,596 shares of the company traded hands, compared to its average volume of 6,487,173. EQT Co. has a one year low of $30.84 and a one year high of $45.23. The company has a market cap of $16.73 billion, a PE ratio of 8.94 and a beta of 1.12. The firm’s 50-day simple moving average is $36.06 and its 200-day simple moving average is $37.99. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm posted $0.42 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. Equities analysts predict that EQT Co. will post 1.07 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, May 7th. EQT’s dividend payout ratio is presently 14.82%.

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.