Mirae Asset Global Investments Co. Ltd. Increases Holdings in EQT Co. (NYSE:EQT)

Mirae Asset Global Investments Co. Ltd. boosted its position in EQT Co. (NYSE:EQT) by 44.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,555 shares of the oil and gas producer’s stock after buying an additional 16,416 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EQT were worth $2,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of EQT. HM Payson & Co. purchased a new stake in shares of EQT in the 3rd quarter valued at $25,000. Truvestments Capital LLC purchased a new position in shares of EQT during the third quarter worth $30,000. Quarry LP lifted its position in EQT by 184.7% during the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in EQT in the third quarter valued at $36,000. Finally, Financial Avengers Inc. grew its position in EQT by 100.8% during the 3rd quarter. Financial Avengers Inc. now owns 1,004 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, January 3rd. Bank of America began coverage on EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price objective on the stock. Truist Financial lifted their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company increased their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $57.00 in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.94.

EQT Price Performance

Shares of EQT stock opened at $51.11 on Monday. The stock has a market capitalization of $30.50 billion, a P/E ratio of 60.84, a PEG ratio of 0.62 and a beta of 1.08. The business has a 50 day simple moving average of $47.96 and a two-hundred day simple moving average of $40.42. EQT Co. has a 12 month low of $30.02 and a 12 month high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be issued a $0.1575 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.23%. EQT’s payout ratio is currently 75.00%.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.63% of the stock is currently owned by corporate insiders.

About EQT

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.