Mackenzie Financial Corp Acquires 7,425 Shares of EQT Co. (NYSE:EQT)

Mackenzie Financial Corp increased its holdings in shares of EQT Co. (NYSE:EQT) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,890 shares of the oil and gas producer’s stock after acquiring an additional 7,425 shares during the quarter. Mackenzie Financial Corp’s holdings in EQT were worth $2,393,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. lifted its holdings in EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after acquiring an additional 310 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 205 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 193 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of EQT in the fourth quarter valued at $55,000. Finally, First Horizon Advisors Inc. raised its stake in shares of EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 298 shares during the period. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of NYSE EQT opened at $55.36 on Friday. The stock has a market cap of $33.14 billion, a PE ratio of 138.40, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.37. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The stock has a fifty day moving average of $52.28 and a 200-day moving average of $49.78.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equities research analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, May 7th. EQT’s payout ratio is 110.53%.

Analyst Ratings Changes

Several analysts have issued reports on EQT shares. Morgan Stanley boosted their target price on EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. TD Cowen upgraded EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. UBS Group upgraded EQT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $54.00 to $64.00 in a research note on Monday, May 5th. Finally, Citigroup boosted their target price on EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.11.

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.