Boston Partners Acquires 966,475 Shares of EQT Co. (NYSE:EQT)

Boston Partners increased its holdings in EQT Co. (NYSE:EQT) by 33.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,834,505 shares of the oil and gas producer’s stock after purchasing an additional 966,475 shares during the quarter. Boston Partners owned approximately 0.87% of EQT worth $142,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky grew its stake in shares of EQT by 135.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 79,047 shares of the oil and gas producer’s stock worth $2,930,000 after purchasing an additional 45,420 shares during the last quarter. Cetera Advisors LLC boosted its position in EQT by 9.9% during the 1st quarter. Cetera Advisors LLC now owns 14,586 shares of the oil and gas producer’s stock valued at $541,000 after acquiring an additional 1,318 shares in the last quarter. Cetera Investment Advisers bought a new stake in EQT during the 1st quarter valued at approximately $2,274,000. Swedbank AB bought a new stake in EQT during the 1st quarter valued at approximately $4,073,000. Finally, Virtu Financial LLC boosted its position in EQT by 184.3% during the 1st quarter. Virtu Financial LLC now owns 53,138 shares of the oil and gas producer’s stock valued at $1,970,000 after acquiring an additional 34,446 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Jefferies Financial Group lifted their price objective on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Morgan Stanley lifted 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. Mizuho lifted their target price on shares of EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Wolfe Research initiated coverage on shares of EQT in a report on Thursday, July 18th. They set an “outperform” rating and a $51.00 target price for the company. Finally, Piper Sandler lowered their target price on shares of EQT from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, EQT has an average rating of “Moderate Buy” and a consensus price target of $45.50.

EQT Stock Performance

EQT traded down $2.02 during mid-day trading on Friday, reaching $31.57. 9,078,198 shares of the company traded hands, compared to its average volume of 11,123,241. The stock has a market capitalization of $13.94 billion, a P/E ratio of 22.88 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $37.61 and its 200-day moving average price is $37.16. EQT Co. has a 52-week low of $31.41 and a 52-week high of $45.23.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million during the quarter, compared to analyst estimates of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. On average, sell-side analysts expect that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 2.00%. EQT’s dividend payout ratio is presently 45.65%.

Insider Buying and Selling at EQT

In other news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

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.