Worldquant Millennium Advisors LLC Invests $24.05 Million in EQT Co. (NYSE:EQT)

Worldquant Millennium Advisors LLC purchased a new position in shares of EQT Co. (NYSE:EQT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 521,489 shares of the oil and gas producer’s stock, valued at approximately $24,046,000. Worldquant Millennium Advisors LLC owned approximately 0.09% of EQT at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings 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 buying an additional 358,649 shares in the last quarter. Geode Capital Management LLC grew its holdings in EQT by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer’s stock worth $663,552,000 after buying an additional 429,733 shares in the last quarter. Capital International Investors grew its holdings in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer’s stock worth $638,867,000 after buying an additional 2,433,632 shares in the last quarter. Clearbridge Investments LLC grew its holdings in EQT by 14.7% during the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer’s stock worth $637,698,000 after buying an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after buying an additional 4,162,065 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Stock Up 1.0%

Shares of NYSE EQT opened at $56.09 on Wednesday. EQT Co. has a one year low of $30.02 and a one year high of $57.37. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The business’s fifty day moving average price is $51.86 and its 200-day moving average price is $49.09. The stock has a market capitalization of $33.58 billion, a PE ratio of 140.23, a P/E/G ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. On average, equities research analysts anticipate that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.12%. EQT’s dividend payout ratio is presently 110.53%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EQT. The Goldman Sachs Group reiterated a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on EQT from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Mizuho upped their price target on EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. TD Cowen upgraded EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, April 8th. Finally, Piper Sandler upped their price objective on EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.67.

EQT Company 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.