Jennison Associates LLC Has $8.94 Million Position in EQT Co. (NYSE:EQT)

Jennison Associates LLC lifted its stake in shares of EQT Co. (NYSE:EQT) by 50.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 231,335 shares of the oil and gas producer’s stock after acquiring an additional 77,663 shares during the period. Jennison Associates LLC owned 0.06% of EQT worth $8,943,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EQT. BKM Wealth Management LLC acquired a new position in EQT during the fourth quarter worth $40,000. Allworth Financial LP raised its holdings in EQT by 26.9% during the third quarter. Allworth Financial LP now owns 1,332 shares of the oil and gas producer’s stock worth $54,000 after buying an additional 282 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in EQT during the third quarter worth $54,000. Massmutual Trust Co. FSB ADV raised its holdings in EQT by 52.6% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,563 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 539 shares during the last quarter. Finally, CX Institutional acquired a new position in EQT during the fourth quarter worth $64,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EQT. Scotiabank upgraded shares of EQT from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $40.00 to $52.00 in a report on Thursday, April 11th. Piper Sandler lowered their target price on shares of EQT from $47.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Stephens increased their target price on shares of EQT from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Wednesday. Mizuho increased their target price on shares of EQT from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley increased their target price on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.25.

EQT Price Performance

Shares of NYSE:EQT opened at $40.61 on Friday. 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 firm has a market capitalization of $17.89 billion, a PE ratio of 29.43 and a beta of 1.12. EQT Co. has a twelve month low of $30.84 and a twelve month high of $45.23. The company has a 50-day moving average price of $36.43 and a two-hundred day moving average price of $37.99.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.70%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $1.70 earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis. Equities analysts forecast that EQT Co. will post 0.99 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, May 7th. EQT’s payout ratio is 45.65%.

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.