EQT Co. (NYSE:EQT) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in EQT Co. (NYSE:EQT) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,032 shares of the oil and gas producer’s stock after purchasing an additional 1,763 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in EQT were worth $2,814,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of EQT by 38.7% in the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. State Street Corp increased its holdings in 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 valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in EQT in the third quarter valued at approximately $562,494,000. Geode Capital Management LLC lifted its stake in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of EQT by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after buying an additional 1,108,134 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EQT shares. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. Truist Financial increased their price target on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Stephens raised their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler upped their target price on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of EQT to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $51.11 on Monday. The stock’s 50-day simple moving average is $47.96 and its 200-day simple moving average is $40.42. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $30.50 billion, a PE ratio of 60.84, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.23%. EQT’s dividend payout ratio is presently 75.00%.

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.