Macquarie Group Ltd. Has $2.25 Million Stock Position in EQT Co. (NYSE:EQT)

Macquarie Group Ltd. lowered its holdings in shares of EQT Co. (NYSE:EQT) by 84.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,547 shares of the oil and gas producer’s stock after selling 378,958 shares during the period. Macquarie Group Ltd.’s holdings in EQT were worth $2,251,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Ahrens Investment Partners LLC acquired a new position in EQT in the 1st quarter worth about $29,000. City Holding Co. acquired a new position in EQT in the 1st quarter worth about $32,000. Zullo Investment Group Inc. increased its holdings in EQT by 258.6% in the 4th quarter. Zullo Investment Group Inc. now owns 1,040 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 750 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in EQT by 270.0% in the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 918 shares in the last quarter. Finally, Clearstead Advisors LLC acquired a new position in EQT in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 99.44% of the company’s stock.

Wall Street Analysts Forecast Growth

EQT has been the subject of a number of recent research reports. Tudor, Pickering, Holt & Co. raised EQT from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Truist Financial upped their target price on EQT from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, September 11th. Morgan Stanley upped their price target on EQT from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, August 18th. UBS Group reduced their price target on EQT from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 31st. Finally, Wells Fargo & Company upped their price target on EQT from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.71.

Insiders Place Their Bets

In other news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $41.40, for a total value of $828,000,000.00. Following the completion of the sale, the insider now directly owns 23,946,108 shares of the company’s stock, valued at $991,368,871.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

EQT Stock Down 0.8 %

Shares of EQT stock opened at $41.19 on Tuesday. EQT Co. has a one year low of $28.10 and a one year high of $48.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50-day moving average is $41.90 and its 200 day moving average is $37.23. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 4.63, a PEG ratio of 1.10 and a beta of 1.22.

EQT (NYSE:EQT) last announced its earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.09. The company had revenue of $993.08 million for the quarter, compared to analyst estimates of $1.01 billion. EQT had a return on equity of 10.61% and a net margin of 38.44%. The firm’s revenue for the quarter was down 38.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS. Equities research analysts anticipate that EQT Co. will post 2.01 EPS for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.60 annualized dividend and a yield of 1.46%. EQT’s payout ratio is currently 6.75%.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.