Wealth High Governance Capital Ltda Invests $8.61 Million in EQT Co. (NYSE:EQT)

Wealth High Governance Capital Ltda acquired a new position in shares of EQT Co. (NYSE:EQT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 186,634 shares of the oil and gas producer’s stock, valued at approximately $8,606,000. EQT accounts for 3.1% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 13th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in EQT by 39.4% in the 3rd quarter. Principal Financial Group Inc. now owns 700,714 shares of the oil and gas producer’s stock valued at $25,674,000 after buying an additional 198,227 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in EQT during the third quarter valued at approximately $215,000. Assetmark Inc. increased its position in shares of EQT by 8.9% during the 3rd quarter. Assetmark Inc. now owns 27,899 shares of the oil and gas producer’s stock worth $1,022,000 after purchasing an additional 2,283 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of EQT in the 3rd quarter valued at approximately $201,000. Finally, Covestor Ltd grew its stake in shares of EQT by 437.9% in the third quarter. Covestor Ltd now owns 2,856 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $49.12 on Wednesday. The business has a fifty day moving average price of $50.65 and a two-hundred day moving average price of $43.24. The stock has a market capitalization of $29.35 billion, a PE ratio of 122.80, a P/E/G ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.81 billion. As a group, equities analysts predict that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.28%. EQT’s dividend payout ratio is 157.50%.

Analysts Set New Price Targets

A number of research analysts have recently commented on EQT shares. Scotiabank downgraded shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Jefferies Financial Group upped their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Truist Financial lifted their target price on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. The Goldman Sachs Group reaffirmed a “reduce” rating on shares of EQT in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Hold” and an average price target of $52.44.

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.