Cerity Partners LLC Acquires 29,685 Shares of EQT Corporation (NYSE:EQT)

Cerity Partners LLC grew its stake in EQT Corporation (NYSE:EQT) by 85.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,224 shares of the oil and gas producer’s stock after acquiring an additional 29,685 shares during the period. Cerity Partners LLC’s holdings in EQT were worth $3,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EQT. Vanguard Group Inc. raised its position in EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer’s stock worth $3,344,371,000 after acquiring an additional 358,649 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Capital International Investors increased its stake in shares of EQT by 21.3% during the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock valued at $637,698,000 after purchasing an additional 1,774,696 shares during the period. Finally, Invesco Ltd. lifted its stake in EQT by 46.3% in the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock valued at $606,059,000 after purchasing an additional 4,162,065 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 0.8%

Shares of EQT opened at $59.20 on Friday. The firm has a 50 day simple moving average of $56.63 and a two-hundred day simple moving average of $52.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57. EQT Corporation has a one year low of $30.02 and a one year high of $61.02. The company has a market cap of $35.45 billion, a P/E ratio of 103.86, a P/E/G ratio of 0.38 and a beta of 0.65.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 5.52% and a net margin of 6.59%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Research analysts forecast that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.06%. The ex-dividend date is Wednesday, August 6th. EQT’s payout ratio is 110.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Mizuho raised EQT to an “outperform” rating and set a $66.00 price target on the stock in a research report on Tuesday, July 8th. Roth Capital initiated coverage on EQT in a research note on Tuesday, June 24th. They set a “buy” rating and a $69.00 target price for the company. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Piper Sandler raised their price target on EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Finally, UBS Group reiterated a “buy” rating on shares of EQT in a report on Monday. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.63.

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.