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

Mirae Asset Global Investments Co. Ltd. has significantly increased its investment in EQT Co. (NYSE:EQT), raising its stake by 44.2% during the fourth quarter of 2024, according to a recent Form 13F filing submitted to the Securities and Exchange Commission (SEC). Following this purchase, the institutional investor now holds a total of 53,555 shares of EQT. This increase includes an additional 16,416 shares acquired during the quarter, bringing the value of Mirae Asset's holdings in the oil and gas company to approximately $2,379,000.

In addition to Mirae Asset, other institutional investors have also modified their positions in EQT. MassMutual Private Wealth & Trust FSB increased its stake by 15.9% during the same quarter, owning now 1,719 shares valued at $79,000 after acquiring an extra 236 shares. Radnor Capital Management LLC raised its stake by 0.4%, bringing its total to 60,948 shares worth $2,810,000 after the purchase of 237 additional shares. Waldron Private Wealth LLC and Greenleaf Trust also made minor adjustments by increasing their positions by 0.7% and 1.8%, respectively. Resonant Capital Advisors LLC saw a 1.3% increase, owning 29,968 shares valued at $1,382,000. Overall, 90.81% of EQT’s stock is held by institutional investors, indicating significant institutional interest in the company.

Wall Street Analysts Forecast Growth

Market analysts have been optimistic about EQT’s prospects, with several brokerages recently issuing new reports. UBS Group raised its price target for EQT shares from $40.00 to $42.00 and rated the stock as 'neutral'. Jefferies Financial Group set a higher target price of $55.00 while also assigning a 'buy' rating. Bank of America started coverage of EQT with a 'buy' rating and a price target of $50.00, while Royal Bank of Canada affirmed a 'sector perform' rating with a price target of $49.00. StockNews.com shifted the stock's rating to a 'sell'. In total, one analyst has issued a sell rating, seven have a hold rating, and eleven rated it as a buy. The consensus rating for EQT stands at 'Moderate Buy' with an average target price of $49.94 according to MarketBeat.com.

EQT Trading Down 0.6%

On Monday, EQT opened trading at $51.11. The stock has seen a 12-month low of $30.02 and a high of $54.85 and has a fifty-day moving average of $47.96 along with a 200-day moving average of $40.42. The company's market capitalization sits at $30.50 billion, with a price-to-earnings ratio of 60.84 and a PEG ratio of 0.62. EQT has a current ratio of 0.51, a quick ratio of 0.51, and a debt-to-equity ratio of 0.65.

EQT Announces Dividend

Recently, EQT announced a quarterly dividend set to be paid on March 3rd. Shareholders on record as of February 18th will receive a dividend of $0.1575 per share. This equates to an annualized dividend of $0.63, translating to a yield of 1.23%. The ex-dividend date for this payment is also February 18th. EQT’s payout ratio currently stands at 75.00%, showcasing the company’s commitment to returning value to its shareholders.

Insider Activity

In insider news, Director Thomas F. Karam sold 30,154 shares on December 3rd at an average price of $44.83, totaling approximately $1,351,803.82. Post-sale, Karam retains 201,608 shares worth about $9,038,086.64, indicating a decrease of 13.01% in his overall position. This transaction has been disclosed through an SEC filing, which is publicly accessible. Company insiders collectively hold 0.63% of EQT’s shares.

EQT Profile

EQT Corporation primarily engages in the production of natural gas within the United States. The company markets natural gas and natural gas liquids to various clients, including marketers, utilities, and industrial businesses, through its extensive pipeline network located in the Appalachian Basin. Additionally, EQT offers marketing services and manages contractual pipeline capacities to optimize transportation.

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