Sei Investments Co. Grows Position in EQT Co. (NYSE:EQT)

Sei Investments Co. raised its position in shares of EQT Co. (NYSE:EQT) by 49.7% during the 4th quarter, Holdings Channel reports. The fund owned 736,982 shares of the oil and gas producer’s stock after purchasing an additional 244,831 shares during the period. Sei Investments Co.’s holdings in EQT were worth $33,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQT. Wellington Management Group LLP increased its position in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after purchasing an additional 20,700,921 shares during the last quarter. State Street Corp grew its stake in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after buying an additional 3,454,741 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of EQT in the 3rd quarter valued at about $97,979,000. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

Shares of EQT stock opened at $54.03 on Tuesday. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 135.07, a PEG ratio of 0.64 and a beta of 1.12. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $51.33 and its 200 day moving average is $44.43.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. On average, sell-side analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio is currently 157.50%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EQT. Piper Sandler upped their price objective on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Morgan Stanley raised their price target on EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $49.00 price objective on shares of EQT in a research report on Monday, January 6th. Citigroup raised their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.50.

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.