Fifth Third Bancorp Has $308,000 Stock Holdings in EQT Co. (NYSE:EQT)

Fifth Third Bancorp boosted its holdings in shares of EQT Co. (NYSE:EQT) by 8.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,964 shares of the oil and gas producer’s stock after acquiring an additional 601 shares during the period. Fifth Third Bancorp’s holdings in EQT were worth $308,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new position in shares of EQT in the 2nd quarter valued at $33,000. BKM Wealth Management LLC acquired a new position in EQT in the fourth quarter valued at about $40,000. Belpointe Asset Management LLC grew its stake in EQT by 270.0% in the first quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 918 shares during the period. Tyler Stone Wealth Management acquired a new stake in shares of EQT during the second quarter worth about $40,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of EQT during the third quarter worth about $41,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

EQT has been the subject of a number of research reports. Truist Financial lowered their target price on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a report on Monday, December 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a report on Wednesday, March 20th. Finally, Piper Sandler upped their price target on shares of EQT from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, EQT presently has an average rating of “Hold” and an average price target of $43.29.

EQT Stock Performance

Shares of EQT opened at $36.48 on Monday. EQT Co. has a 12 month low of $30.84 and a 12 month high of $45.23. The firm has a fifty day simple moving average of $35.53 and a 200 day simple moving average of $38.22. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 8.58 and a beta of 1.12. The company has a current ratio of 0.99, a quick 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 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. Research analysts forecast that EQT Co. will post 2.35 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Friday, February 16th. EQT’s dividend payout ratio is currently 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.