Praxis Investment Management Inc. Sells 13,027 Shares of EQT Corporation $EQT

Praxis Investment Management Inc. reduced its stake in EQT Corporation (NYSE:EQT) by 40.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,183 shares of the oil and gas producer’s stock after selling 13,027 shares during the period. Praxis Investment Management Inc.’s holdings in EQT were worth $1,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of EQT in the first quarter valued at about $1,957,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in EQT by 25.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,525,776 shares of the oil and gas producer’s stock valued at $134,952,000 after purchasing an additional 506,970 shares during the period. Whittier Trust Co. raised its holdings in shares of EQT by 2.6% in the 2nd quarter. Whittier Trust Co. now owns 302,900 shares of the oil and gas producer’s stock valued at $17,662,000 after purchasing an additional 7,647 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of EQT in the 1st quarter worth approximately $280,000. Finally, Credit Agricole S A boosted its stake in shares of EQT by 8.3% during the first quarter. Credit Agricole S A now owns 168,159 shares of the oil and gas producer’s stock valued at $8,985,000 after purchasing an additional 12,865 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Buying and Selling

In other news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total value of $75,067.38. Following the sale, the executive vice president owned 69,486 shares in the company, valued at $3,668,165.94. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

EQT Trading Down 1.2%

NYSE:EQT opened at $55.40 on Monday. The company has a market capitalization of $34.57 billion, a P/E ratio of 18.97, a PEG ratio of 0.45 and a beta of 0.62. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.29. EQT Corporation has a 12 month low of $42.27 and a 12 month high of $62.23. The firm has a fifty day simple moving average of $56.77 and a 200-day simple moving average of $55.00.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.88% and a net margin of 22.59%.The firm’s quarterly revenue was up 52.6% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. On average, equities research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from EQT’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, November 5th. EQT’s dividend payout ratio is presently 22.60%.

Analysts Set New Price Targets

EQT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on EQT from $68.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Barclays reduced their target price on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c+)” rating on shares of EQT in a report on Monday, December 8th. Melius started coverage on shares of EQT in a research note on Wednesday, August 20th. They set a “buy” rating and a $64.00 price objective for the company. Finally, Citigroup raised their target price on shares of EQT from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.17.

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.