Principal Financial Group Inc. Has $17.41 Million Stock Position in EQT Co. (NYSE:EQT)

Posted by Defense World Staff on May 23rd, 2023

Principal Financial Group Inc. decreased its position in shares of EQT Co. (NYSE:EQT – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 514,717 shares of the oil and gas producer’s stock after selling 6,083 shares during the period. Principal Financial Group Inc. owned 0.14% of EQT worth $17,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EQT. Huntington National Bank lifted its position in shares of EQT by 569.5% in the fourth quarter. Huntington National Bank now owns 1,339 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 1,139 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of EQT by 1.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 159,984 shares of the oil and gas producer’s stock worth $5,412,000 after buying an additional 2,040 shares during the last quarter. Prudential PLC lifted its position in shares of EQT by 132.3% in the fourth quarter. Prudential PLC now owns 36,324 shares of the oil and gas producer’s stock worth $1,229,000 after buying an additional 20,687 shares during the last quarter. OPTIMAS CAPITAL Ltd lifted its position in shares of EQT by 202.8% in the fourth quarter. OPTIMAS CAPITAL Ltd now owns 64,500 shares of the oil and gas producer’s stock worth $2,182,000 after buying an additional 43,200 shares during the last quarter. Finally, Advisors Preferred LLC increased its stake in shares of EQT by 439.3% in the fourth quarter. Advisors Preferred LLC now owns 14,583 shares of the oil and gas producer’s stock worth $464,000 after purchasing an additional 11,879 shares during the period. Institutional investors and hedge funds own 97.60% of the company’s stock.

EQT Price Performance

EQT opened at $36.31 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.42. EQT Co. has a 12 month low of $28.10 and a 12 month high of $51.97. The company has a fifty day simple moving average of $32.39 and a 200 day simple moving average of $34.47. The stock has a market cap of $13.13 billion, a P/E ratio of 3.22, a P/E/G ratio of 0.66 and a beta of 1.17.

EQT (NYSE:EQT – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The oil and gas producer reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.38. EQT had a net margin of 41.96% and a return on equity of 15.17%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The firm’s quarterly revenue was down 26.4% on a year-over-year basis. On average, research analysts expect that EQT Co. will post 2.73 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Wednesday, May 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, May 9th. EQT’s dividend payout ratio (DPR) is presently 5.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho lifted their price objective on EQT from $48.00 to $52.00 in a research note on Friday. TD Securities dropped their price objective on EQT from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 17th. Stephens initiated coverage on EQT in a research note on Monday, April 24th. They issued an “equal weight” rating and a $36.00 price objective on the stock. StockNews.com initiated coverage on EQT in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lowered their price target on EQT from $41.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 11th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.59.

EQT 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.