Fifth Third Bancorp Grows Stock Position in EQT Co. (NYSE:EQT)

Fifth Third Bancorp increased its holdings in EQT Co. (NYSE:EQT) by 19.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,179 shares of the oil and gas producer’s stock after buying an additional 3,264 shares during the quarter. Fifth Third Bancorp’s holdings in EQT were worth $1,078,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. grew its holdings in EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after buying an additional 310 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 193 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in EQT in the fourth quarter valued at approximately $55,000. Finally, First Horizon Advisors Inc. boosted its position in shares of EQT by 33.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock worth $55,000 after purchasing an additional 298 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Trading Up 2.3%

EQT stock opened at $58.17 on Tuesday. The company has a market cap of $34.82 billion, a price-to-earnings ratio of 145.43, a P/E/G ratio of 0.64 and a beta of 0.65. The firm has a 50-day moving average of $53.35 and a 200-day moving average of $50.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a one year low of $30.02 and a one year high of $58.75.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, equities analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.08%. EQT’s dividend payout ratio is currently 110.53%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotiabank reiterated a “sector perform” rating and set a $62.00 price target (up previously from $57.00) on shares of EQT in a research note on Thursday, May 22nd. Wells Fargo & Company upped their target price on EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley boosted their price objective on EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Finally, Piper Sandler increased their price objective on shares of EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.39.

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.