Stonegate Investment Group LLC Sells 12,915 Shares of EQT Co. (NYSE:EQT)

Stonegate Investment Group LLC reduced its position in shares of EQT Co. (NYSE:EQT) by 64.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,013 shares of the oil and gas producer’s stock after selling 12,915 shares during the period. Stonegate Investment Group LLC’s holdings in EQT were worth $271,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQT. Capital World Investors bought a new stake in EQT in the 1st quarter valued at $497,156,000. Wellington Management Group LLP boosted its holdings in EQT by 61.9% in the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock valued at $798,923,000 after purchasing an additional 7,526,875 shares during the period. Renaissance Technologies LLC boosted its holdings in EQT by 6,029.6% in the 1st quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock valued at $221,059,000 after purchasing an additional 6,319,457 shares during the period. PointState Capital LP bought a new stake in EQT in the 1st quarter valued at $163,646,000. Finally, Clearbridge Investments LLC boosted its holdings in EQT by 66.1% in the 1st quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock valued at $382,493,000 after purchasing an additional 4,423,003 shares during the period. 90.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQT. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of EQT in a report on Tuesday, March 5th. Truist Financial dropped their price objective on shares of EQT from $41.00 to $39.00 and set a “hold” rating for the company in a research note on Thursday, February 15th. Piper Sandler increased their price objective on shares of EQT from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. The Goldman Sachs Group dropped their target price on shares of EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group dropped their target price on shares of EQT from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.50.

EQT Trading Up 0.9 %

EQT opened at $37.19 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $16.38 billion, a PE ratio of 8.75 and a beta of 1.12. EQT Co. has a 1-year low of $30.84 and a 1-year high of $45.23. The firm has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $38.30.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. EQT had a net margin of 25.12% and a return on equity of 7.12%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. As a group, equities analysts anticipate that EQT Co. will post 2.42 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were paid a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, February 16th. EQT’s dividend payout ratio (DPR) is presently 14.82%.

About EQT

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.