DekaBank Deutsche Girozentrale Purchases 9,676 Shares of EQT Co. (NYSE:EQT)

Posted by on Apr 23rd, 2023

DekaBank Deutsche Girozentrale raised its position in EQT Co. (NYSE:EQT – Get Rating) by 60.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,589 shares of the oil and gas producer’s stock after acquiring an additional 9,676 shares during the period. DekaBank Deutsche Girozentrale’s holdings in EQT were worth $858,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Kestra Advisory Services LLC increased its position in shares of EQT by 7.1% during the 4th quarter. Kestra Advisory Services LLC now owns 17,818 shares of the oil and gas producer’s stock worth $603,000 after purchasing an additional 1,182 shares during the last quarter. Shilanski & Associates Inc. acquired a new position in shares of EQT during the 4th quarter worth approximately $840,000. New York State Common Retirement Fund increased its position in shares of EQT by 2.0% during the 4th quarter. New York State Common Retirement Fund now owns 429,824 shares of the oil and gas producer’s stock worth $14,541,000 after purchasing an additional 8,256 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of EQT by 33.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,163,877 shares of the oil and gas producer’s stock worth $39,374,000 after purchasing an additional 291,977 shares during the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of EQT by 2.7% during the 4th quarter. New York State Teachers Retirement System now owns 345,633 shares of the oil and gas producer’s stock worth $11,693,000 after purchasing an additional 8,974 shares during the last quarter. Institutional investors and hedge funds own 97.60% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $32.59 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.47. EQT Co. has a twelve month low of $28.10 and a twelve month high of $51.97. The company has a market cap of $11.74 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.46 and a beta of 1.16. The business has a fifty day simple moving average of $31.83 and a 200 day simple moving average of $35.68.

EQT (NYSE:EQT – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The oil and gas producer reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.10). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $0.41 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that EQT Co. will post 3.47 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Wednesday, May 10th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.84%. EQT’s dividend payout ratio is currently 14.60%.

Wall Street Analyst Weigh In

EQT has been the topic of several recent analyst reports. Mizuho lowered their price target on EQT from $62.00 to $48.00 in a research report on Friday, March 10th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of EQT in a report on Tuesday, March 7th. TD Securities decreased their target price on EQT from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 17th. Wells Fargo & Company decreased their target price on EQT from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, April 11th. Finally, Morgan Stanley decreased their target price on EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Monday, March 27th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $49.44.

EQT Company Profile

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EQT Corp. is a natural gas production company, which engages in the supply, transmission, and distribution of natural gas. The company was founded in 1888 and is headquartered in Pittsburgh, PA.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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