ANTIPODES PARTNERS Ltd Makes New Investment in EQT Co. (NYSE:EQT)

ANTIPODES PARTNERS Ltd bought a new position in shares of EQT Co. (NYSE:EQT) in the 4th quarter, Holdings Channel reports. The institutional investor bought 1,474,111 shares of the oil and gas producer’s stock, valued at approximately $67,977,000. EQT accounts for about 2.4% of ANTIPODES PARTNERS Ltd’s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQT. Wellington Management Group LLP lifted its stake in EQT by 38.7% during 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 lifted 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 valued at $1,359,183,000 after acquiring an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $511,159,000 after acquiring an additional 3,582,418 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of EQT by 386.9% in 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 acquiring an additional 3,454,741 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of EQT in the 3rd quarter valued at $97,979,000. 90.81% of the stock is currently owned by institutional investors.

EQT Stock Performance

Shares of EQT stock opened at $49.03 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $50.71 and a two-hundred day moving average price of $43.28. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The company has a market cap of $29.29 billion, a P/E ratio of 122.57, a PEG ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping 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 firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. As a group, analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.29%. EQT’s dividend payout ratio is presently 157.50%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler increased their price target on EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research note on Monday, January 6th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and increased their price target for the company from $48.00 to $57.00 in a research note on Monday, December 16th. UBS Group increased their price target on EQT from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company raised their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.44.

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.