Corient Private Wealth LLC Cuts Stock Position in EQT Co. (NYSE:EQT)

Corient Private Wealth LLC trimmed its position in shares of EQT Co. (NYSE:EQT) by 21.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 69,258 shares of the oil and gas producer’s stock after selling 18,385 shares during the quarter. Corient Private Wealth LLC’s holdings in EQT were worth $3,194,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Ninepoint Partners LP purchased a new stake in shares of EQT during the fourth quarter worth approximately $23,055,000. Natixis Advisors LLC increased its stake in shares of EQT by 118.9% during the fourth quarter. Natixis Advisors LLC now owns 389,448 shares of the oil and gas producer’s stock worth $17,957,000 after buying an additional 211,544 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of EQT during the fourth quarter worth approximately $784,000. Hilton Capital Management LLC purchased a new stake in shares of EQT during the fourth quarter worth approximately $2,782,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of EQT by 2.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 118,804 shares of the oil and gas producer’s stock worth $5,478,000 after buying an additional 2,407 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. Morgan Stanley upped their price target on EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. upped their price target on EQT from $58.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, March 13th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $55.00 to $54.00 in a report on Friday, January 17th. Finally, Wells Fargo & Company upped their price target on EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

EQT Price Performance

Shares of NYSE EQT opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The stock has a fifty day moving average price of $51.25 and a 200 day moving average price of $44.20. EQT Co. has a 1-year low of $30.02 and a 1-year high of $56.66. The company has a market cap of $31.60 billion, a PE ratio of 132.23, a P/E/G ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Sell-side analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, February 18th. EQT’s dividend payout ratio is presently 157.50%.

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.