Mediolanum International Funds Ltd Purchases 9,313 Shares of EQT Co. (NYSE:EQT)

Mediolanum International Funds Ltd boosted its position in EQT Co. (NYSE:EQT) by 140.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,940 shares of the oil and gas producer’s stock after acquiring an additional 9,313 shares during the period. Mediolanum International Funds Ltd’s holdings in EQT were worth $741,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in 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 worth $2,716,968,000 after purchasing an additional 20,700,921 shares in the last quarter. State Street Corp raised its holdings in EQT by 24.5% in the third 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 in the last quarter. Modera Wealth Management LLC bought a new position in EQT in the third quarter worth about $562,494,000. Geode Capital Management LLC raised its holdings in EQT by 34.4% in the third 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in EQT by 28.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after purchasing an additional 1,108,134 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Trading Down 1.2 %

EQT stock opened at $51.03 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 12 month low of $30.02 and a 12 month high of $54.85. The stock’s 50 day simple moving average is $47.32 and its two-hundred day simple moving average is $39.84. The firm has a market cap of $30.45 billion, a PE ratio of 60.75, a P/E/G ratio of 0.58 and a beta of 1.12.

Analyst Ratings Changes

A number of brokerages have commented on EQT. Piper Sandler boosted their target price on shares of EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 15th. Jefferies Financial Group upped their price objective on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Stephens upped their price objective on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

Insiders Place Their Bets

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

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.