Jennison Associates LLC Invests $22.97 Million in EQT Co. (NYSE:EQT)

Jennison Associates LLC purchased a new stake in EQT Co. (NYSE:EQT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 498,105 shares of the oil and gas producer’s stock, valued at approximately $22,968,000. Jennison Associates LLC owned about 0.08% of EQT at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new stake in shares of EQT in the 3rd quarter valued at approximately $25,000. Truvestments Capital LLC bought a new position in shares of EQT during the 3rd quarter valued at approximately $30,000. Quarry LP raised its holdings in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 578 shares during the period. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in EQT during the third quarter worth $36,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock opened at $52.89 on Thursday. The firm has a market cap of $31.56 billion, a price-to-earnings ratio of 62.96, a PEG ratio of 0.62 and a beta of 1.08. EQT Co. has a 52-week low of $30.02 and a 52-week high of $54.85. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $47.57 and its 200 day moving average is $40.11.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EQT shares. StockNews.com raised shares of EQT to a “sell” rating in a research note on Friday, January 31st. Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Piper Sandler boosted their target price on EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $55.00 to $54.00 in a report on Friday, January 17th. Finally, Citigroup raised their price target on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.94.

Insider Activity at EQT

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

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.