Mackenzie Financial Corp Purchases 1,150 Shares of EQT Co. (NYSE:EQT)

Mackenzie Financial Corp grew its holdings in shares of EQT Co. (NYSE:EQT) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 406,147 shares of the oil and gas producer’s stock after purchasing an additional 1,150 shares during the period. Mackenzie Financial Corp’s holdings in EQT were worth $15,702,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Capital World Investors bought a new position in EQT during the 1st quarter worth approximately $497,156,000. Wellington Management Group LLP increased its holdings in EQT by 61.9% in the third quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after purchasing an additional 7,526,875 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of EQT by 6,029.6% during the 1st quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock worth $221,059,000 after buying an additional 6,319,457 shares during the period. PointState Capital LP acquired a new position in shares of EQT during the 1st quarter valued at $163,646,000. Finally, Clearbridge Investments LLC increased its stake in EQT by 66.1% in 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 purchasing an additional 4,423,003 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EQT. Truist Financial decreased their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of EQT in a research note on Tuesday, March 5th. Mizuho lifted their price objective on shares of EQT from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday. Piper Sandler upped their price objective on shares of EQT from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and upped their target price for the company from $27.00 to $34.00 in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, EQT presently has a consensus rating of “Hold” and a consensus price target of $43.80.

EQT Trading Up 0.5 %

Shares of EQT stock opened at $36.22 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $35.88 and a 200 day moving average of $38.08. The stock has a market capitalization of $15.95 billion, a PE ratio of 8.52 and a beta of 1.12. EQT Co. has a 1-year low of $30.84 and a 1-year high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings data 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. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, sell-side analysts anticipate that EQT Co. will post 1.4 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.74%. 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.