Nikko Asset Management Americas Inc. Has $1.02 Million Stake in EQT Co. (NYSE:EQT)

Nikko Asset Management Americas Inc. reduced its holdings in EQT Co. (NYSE:EQT) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,034 shares of the oil and gas producer’s stock after selling 7,306 shares during the period. Nikko Asset Management Americas Inc.’s holdings in EQT were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of EQT by 38.7% in 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 last quarter. State Street Corp increased its position in shares of EQT by 24.5% during 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 last quarter. Geode Capital Management LLC raised its stake in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of EQT by 386.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after buying an additional 3,454,741 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of EQT in the third quarter valued at $97,979,000. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 1.7 %

Shares of EQT stock opened at $51.57 on Tuesday. The stock has a market cap of $30.81 billion, a P/E ratio of 128.93, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a 50 day simple moving average of $50.90 and a 200 day simple moving average of $43.72.

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

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s payout ratio is presently 157.50%.

Analyst Upgrades and Downgrades

EQT has been the subject of a number of recent analyst reports. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research note on Wednesday, January 15th. Morgan Stanley raised their target price on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. Finally, StockNews.com upgraded EQT from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.06.

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.