Mirae Asset Global Investments Co. Ltd. Purchases 8,310 Shares of EQT Co. (NYSE:EQT)

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

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of EQT by 12.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 31,346 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 3,541 shares during the period. Acadian Asset Management LLC purchased a new position in EQT during the first quarter worth about $96,000. Great West Life Assurance Co. Can grew its position in EQT by 8.1% during the first quarter. Great West Life Assurance Co. Can now owns 166,448 shares of the oil and gas producer’s stock worth $5,891,000 after buying an additional 12,466 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of EQT in the 1st quarter valued at about $539,000. Finally, Blair William & Co. IL bought a new stake in shares of EQT in the 1st quarter valued at about $329,000. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

EQT stock opened at $36.03 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $15.87 billion, a P/E ratio of 8.48 and a beta of 1.12. The stock’s 50 day moving average is $35.85 and its 200 day moving average is $38.09. EQT Co. has a twelve month low of $30.84 and a twelve month high of $45.23.

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

EQT Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have commented on EQT shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $37.00 price target (down previously from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Piper Sandler upped their price target on EQT from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. The Goldman Sachs Group lowered their price target on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of EQT in a research report on Tuesday, March 5th. Finally, Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and upped their price target for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.