Mitsubishi UFJ Asset Management UK Ltd. Boosts Stake in EQT Co. (NYSE:EQT)

Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in EQT Co. (NYSE:EQT) by 195.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,000 shares of the oil and gas producer’s stock after purchasing an additional 39,000 shares during the period. EQT accounts for approximately 1.2% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 23rd largest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in EQT were worth $2,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQT. Wellington Management Group LLP increased its stake in 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 worth $2,716,968,000 after buying an additional 20,700,921 shares in the last quarter. Modera Wealth Management LLC purchased a new stake in EQT in the 3rd quarter worth $562,494,000. State Street Corp increased its stake in 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 worth $1,359,183,000 after buying an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 worth $511,159,000 after buying an additional 3,582,418 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of EQT during the 3rd quarter valued at about $97,979,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EQT has been the subject of several research reports. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. Morgan Stanley increased their price objective on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Stephens increased their price target on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $49.00 price target on shares of EQT in a report on Monday, January 6th. Finally, BMO Capital Markets increased their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.89.

EQT Trading Up 0.7 %

Shares of EQT stock opened at $53.33 on Wednesday. The company has a market capitalization of $31.82 billion, a P/E ratio of 63.48 and a beta of 1.12. The company’s fifty day moving average is $46.01 and its two-hundred day moving average is $38.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT Co. has a 1 year low of $30.02 and a 1 year high of $53.98.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Analysts forecast that EQT Co. will post 1.42 earnings per share for the current year.

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.