Mirae Asset Global Investments Co. Ltd. Grows Stake in EQT Co. (NYSE:EQT)

Mirae Asset Global Investments Co. Ltd. increased its stake in EQT Co. (NYSE:EQT) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,722 shares of the oil and gas producer’s stock after acquiring an additional 8,310 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EQT were worth $3,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital World Investors purchased a new position in shares of EQT during the first quarter valued at approximately $497,156,000. Wellington Management Group LLP boosted its position in shares of EQT by 61.9% during the third 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 buying an additional 7,526,875 shares during the period. Renaissance Technologies LLC boosted its position in shares of EQT by 6,029.6% during the first quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock valued at $221,059,000 after buying an additional 6,319,457 shares during the period. PointState Capital LP purchased a new position in shares of EQT during the first quarter valued at approximately $163,646,000. Finally, Clearbridge Investments LLC boosted its position in shares of EQT by 66.1% during the first quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock valued at $382,493,000 after buying an additional 4,423,003 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $36.03 on Thursday. The firm has a market capitalization of $15.87 billion, a PE ratio of 8.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. EQT Co. has a 1-year low of $30.84 and a 1-year high of $45.23. The company’s fifty day moving average price is $35.85 and its 200-day moving average price is $38.09.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. On average, equities research analysts predict that EQT Co. will post 1.31 EPS for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.75%. EQT’s payout ratio is 14.82%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EQT. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of EQT in a research report on Tuesday, March 5th. The Goldman Sachs Group decreased their price target on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. Piper Sandler lifted their price target on shares of EQT from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $48.00 to $37.00 in a research note on Wednesday. Finally, Truist Financial decreased their price target on shares of EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, EQT has a consensus rating of “Hold” and a consensus price target of $43.13.

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.