MML Investors Services LLC Increases Position in EQT Co. (NYSE:EQT)

MML Investors Services LLC increased its position in shares of EQT Co. (NYSE:EQT) by 29.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,895 shares of the oil and gas producer’s stock after purchasing an additional 4,057 shares during the period. MML Investors Services LLC’s holdings in EQT were worth $656,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares during the period. Modera Wealth Management LLC purchased a new position in EQT in the 3rd quarter worth approximately $562,494,000. State Street Corp boosted its stake in EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the period. Holocene Advisors LP purchased a new stake in EQT during the 3rd quarter valued at approximately $97,979,000. Finally, Canoe Financial LP bought a new stake in shares of EQT during the third quarter valued at approximately $89,907,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EQT. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 target price on shares of EQT in a research note on Tuesday, December 3rd. Truist Financial lifted their target price on EQT from $32.00 to $41.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Stephens increased their price target on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Bank of America initiated coverage on EQT in a research report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.61.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.63% of the company’s stock.

EQT Stock Up 0.8 %

Shares of NYSE:EQT opened at $42.99 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50 day simple moving average of $41.64 and a two-hundred day simple moving average of $37.52. EQT Co. has a 1 year low of $30.02 and a 1 year high of $48.02. The firm has a market capitalization of $25.65 billion, a PE ratio of 51.18 and a beta of 1.14.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 EPS. On average, equities analysts predict that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.47%. EQT’s dividend payout ratio (DPR) is 75.00%.

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.