Harvest Fund Management Co. Ltd Has $126,000 Stock Holdings in EQT Co. (NYSE:EQT)

Harvest Fund Management Co. Ltd grew its holdings in EQT Co. (NYSE:EQT) by 1,489.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,733 shares of the oil and gas producer’s stock after purchasing an additional 2,561 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in EQT were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQT. Wellington Management Group LLP lifted 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 purchasing an additional 20,700,921 shares during the period. State Street Corp raised its stake in EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after buying an additional 7,290,822 shares during the period. Geode Capital Management LLC raised its stake in EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after buying an additional 3,582,418 shares during the period. Allspring Global Investments Holdings LLC raised its stake in EQT by 386.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock worth $205,830,000 after buying an additional 3,454,741 shares during the period. Finally, Holocene Advisors LP acquired a new position in EQT during the 3rd quarter worth approximately $97,979,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

EQT stock opened at $52.89 on Friday. The firm has a market cap of $31.60 billion, a PE ratio of 132.23, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average of $51.25 and a 200-day moving average of $44.20. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.81 billion. As a group, sell-side analysts expect that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 yield of 1.19%. EQT’s payout ratio is 157.50%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EQT shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price target on shares of EQT in a research note on Monday, January 6th. Truist Financial upped their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Piper Sandler upped their price target on EQT from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Citigroup boosted their price objective on EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. boosted their price objective on EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.50.

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.