Invesco Ltd. Purchases 4,162,065 Shares of EQT Co. (NYSE:EQT)

Invesco Ltd. lifted its position in EQT Co. (NYSE:EQT) by 46.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,143,774 shares of the oil and gas producer’s stock after buying an additional 4,162,065 shares during the period. Invesco Ltd. owned about 2.20% of EQT worth $606,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its position in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after acquiring an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after purchasing an additional 205 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of EQT by 4.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,731 shares of the oil and gas producer’s stock valued at $218,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank boosted its position in shares of EQT by 7.4% during the fourth quarter. Huntington National Bank now owns 3,265 shares of the oil and gas producer’s stock worth $151,000 after buying an additional 224 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of EQT by 15.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,719 shares of the oil and gas producer’s stock worth $79,000 after buying an additional 236 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Mizuho raised their target price on shares of EQT from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. raised their price objective on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.11.

EQT Trading Up 2.4 %

EQT stock opened at $47.21 on Tuesday. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The company has a market capitalization of $28.20 billion, a PE ratio of 118.02, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. The company’s 50 day moving average price is $51.22 and its two-hundred day moving average price is $45.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

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

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Tuesday, February 18th. EQT’s dividend payout ratio (DPR) is presently 157.50%.

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.