Raymond James Financial Services Advisors Inc. Acquires 118,482 Shares of EQT Co. (NYSE:EQT)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of EQT Co. (NYSE:EQTFree Report) by 212.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,346 shares of the oil and gas producer’s stock after acquiring an additional 118,482 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in EQT were worth $6,740,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 3,539,661 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 1,098,211 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of EQT by 5.4% during the 3rd quarter. Principal Financial Group Inc. now owns 437,630 shares of the oil and gas producer’s stock valued at $17,759,000 after acquiring an additional 22,560 shares during the last quarter. Mariner LLC boosted its position in shares of EQT by 196.9% during the 3rd quarter. Mariner LLC now owns 70,828 shares of the oil and gas producer’s stock valued at $2,874,000 after acquiring an additional 46,973 shares during the last quarter. Finally, Vantage Investment Partners LLC bought a new stake in EQT in the 3rd quarter worth approximately $17,819,000. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT opened at $36.87 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.99 and a current ratio of 0.99. EQT Co. has a 52-week low of $30.84 and a 52-week high of $45.23. The stock has a market capitalization of $16.24 billion, a PE ratio of 8.68 and a beta of 1.12. The stock’s 50 day moving average price is $35.47 and its 200-day moving average price is $38.30.

EQT (NYSE:EQTGet Free Report) last posted 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 for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts predict that EQT Co. will post 2.38 EPS for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.1575 per share. The ex-dividend date was Friday, February 16th. This represents a $0.63 annualized dividend and a dividend yield of 1.71%. EQT’s dividend payout ratio (DPR) is presently 14.82%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Mizuho downgraded EQT from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $46.00 to $39.00 in a research report on Wednesday, March 13th. Truist Financial dropped their target price on EQT from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Thursday, February 15th. The Goldman Sachs Group dropped their target price on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday. Piper Sandler boosted their target price on EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, StockNews.com raised EQT to a “sell” rating in a research note on Tuesday, March 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.50.

Check Out Our Latest Stock Analysis on EQT

EQT Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.