Mackenzie Financial Corp Raises Stock Position in EQT Co. (NYSE:EQT)

Mackenzie Financial Corp grew its holdings in EQT Co. (NYSE:EQT) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,147 shares of the oil and gas producer’s stock after purchasing an additional 1,150 shares during the quarter. Mackenzie Financial Corp owned approximately 0.10% of EQT worth $15,702,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in EQT. Compound Global Advisors LLC boosted its position in shares of EQT by 130.2% in the fourth quarter. Compound Global Advisors LLC now owns 409,545 shares of the oil and gas producer’s stock worth $15,833,000 after acquiring an additional 231,651 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in EQT by 212.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 174,346 shares of the oil and gas producer’s stock worth $6,740,000 after buying an additional 118,482 shares during the period. Vanguard Group Inc. grew its stake in EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock valued at $1,822,027,000 after purchasing an additional 3,539,661 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in EQT by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,037,923 shares of the oil and gas producer’s stock valued at $731,979,000 after acquiring an additional 1,098,211 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its stake in EQT by 13.0% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 230,774 shares of the oil and gas producer’s stock valued at $8,922,000 after buying an additional 26,484 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

EQT stock opened at $36.22 on Friday. The business’s fifty day moving average is $35.88 and its 200-day moving average is $38.08. The company has a market cap of $15.95 billion, a P/E ratio of 8.52 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. EQT Co. has a twelve month low of $30.84 and a twelve month high of $45.23.

EQT (NYSE:EQT) last posted its 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 analyst estimates of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. Equities research analysts forecast that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 8th will be issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.74%. EQT’s payout ratio is 14.82%.

Analyst Ratings Changes

EQT has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of EQT in a research note on Tuesday, March 5th. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $27.00 to $34.00 in a research note on Wednesday, April 10th. Jefferies Financial Group boosted their target price on shares of EQT from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Truist Financial lowered their price target on shares of EQT from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Finally, Piper Sandler raised their price target on shares of EQT from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $43.80.

EQT 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.