MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income reduced its stake in EQT Co. (NYSE:EQT – Get Rating) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 410,350 shares of the oil and gas producer’s stock after selling 18,755 shares during the quarter. EQT makes up 1.6% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s investment portfolio, making the stock its 8th largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned 0.11% of EQT worth $14,120,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of EQT. Janney Montgomery Scott LLC grew its stake in EQT by 121.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 50,234 shares of the oil and gas producer’s stock valued at $1,096,000 after purchasing an additional 27,571 shares during the period. Commonwealth Equity Services LLC bought a new position in shares of EQT during the 4th quarter worth $200,000. State of New Jersey Common Pension Fund D grew its stake in shares of EQT by 12.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 187,054 shares of the oil and gas producer’s stock worth $4,080,000 after acquiring an additional 20,127 shares during the period. Yousif Capital Management LLC bought a new position in shares of EQT during the 4th quarter worth $3,466,000. Finally, CWM LLC bought a new position in shares of EQT during the 4th quarter worth $166,000. 90.34% of the stock is owned by hedge funds and other institutional investors.
EQT Trading Up 2.5 %
Shares of EQT stock traded up $1.03 during trading hours on Friday, reaching $42.28. The company’s stock had a trading volume of 4,815,333 shares, compared to its average volume of 6,632,560. The stock has a market capitalization of $15.64 billion, a P/E ratio of -15.54, a P/E/G ratio of 0.22 and a beta of 1.19. EQT Co. has a one year low of $15.71 and a one year high of $50.41. The firm’s fifty day simple moving average is $40.54 and its 200 day simple moving average is $34.78. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.51.
EQT Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Tuesday, August 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 8th. This is a positive change from EQT’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.42%. EQT’s payout ratio is currently -18.38%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on EQT from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 11th. Morgan Stanley cut their target price on EQT from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Tudor, Pickering, Holt & Co. upgraded EQT from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, April 11th. Mizuho cut their target price on EQT from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Finally, Truist Financial raised their price target on EQT from $35.00 to $60.00 in a report on Thursday, April 21st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.83.
EQT Corporation operates as a natural gas production company in the United States. The company produces natural gas, natural gas liquids (NGLs), including ethane, propane, isobutane, butane, and natural gasoline. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.
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