Desjardins Global Asset Management Inc. Purchases 3,390 Shares of EQT Co. (NYSE:EQT)

Desjardins Global Asset Management Inc. raised its position in EQT Co. (NYSE:EQT) by 1,622.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,599 shares of the oil and gas producer’s stock after purchasing an additional 3,390 shares during the period. Desjardins Global Asset Management Inc.’s holdings in EQT were worth $139,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 worth $1,822,027,000 after acquiring an additional 3,539,661 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 worth $798,923,000 after acquiring an additional 7,526,875 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 worth $731,979,000 after acquiring an additional 1,098,211 shares during the last quarter. Capital World Investors bought a new stake in shares of EQT during the 1st quarter worth $497,156,000. Finally, Clearbridge Investments LLC lifted its holdings in shares of EQT by 66.1% during the 1st quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock worth $382,493,000 after acquiring an additional 4,423,003 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

EQT has been the subject of a number of research analyst reports. Scotiabank raised shares of EQT from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $40.00 to $52.00 in a report on Thursday, April 11th. Piper Sandler dropped their price objective on shares of EQT from $47.00 to $41.00 and set an “overweight” rating for the company in a report on Friday. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. Mizuho boosted their price target on shares of EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $48.00 to $37.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, EQT has a consensus rating of “Hold” and a consensus price target of $43.38.

EQT Stock Performance

NYSE:EQT opened at $36.65 on Friday. 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 Co. has a twelve month low of $30.84 and a twelve month high of $45.23. The stock has a market cap of $16.14 billion, a P/E ratio of 8.62 and a beta of 1.12. The firm’s fifty day simple moving average is $35.92 and its 200 day simple moving average is $38.06.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, research analysts predict that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, May 7th. EQT’s payout ratio is 14.82%.

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.